2022
Bridge's founders started the company and raised money in 2022 and launched its APIs in 2023, according to Zach Abrams.
“2023 is when we launched our APIs. 2022 is when we start, Sean and I started the company and raised money.”
Topic
Bridge
10 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2022
Zach Abrams says Terra Luna's collapse hit crypto right after Bridge raised money, and the FTX collapse hit it again.
“And then immediately after we raised money, Terra Luna happened. and then the whole space was nuked and then FTX happened and it was nuked again.”
2022
Bridge's first idea was letting people use a bank account to buy NFTs, before it moved to stablecoins.
“the first idea we had was using your bank account to acquire NFTs”
Undated
Lütke says Shopify's stablecoin payments settle into US dollars through Bridge, so merchants need no strategic change.
“because through the work that Bridge is doing, we can settle into US dollars directly”
Undated
Bridge's first developer customer was Zulu, a Colombia-based company that converted Colombian pesos into stablecoins and then dollars.
“our first developer was this team called Zulu. And they were a company based in Colombia and they were taking Colombian pesos, converting them into stable coins”
Undated
SpaceX uses Bridge to move money collected in local currencies for Starlink back to the US via stablecoins.
“SpaceX came to us. They're selling Starlink all over the world.”
Undated
Zach Abrams says larger traders get better pricing in traditional currency markets but worse pricing in stablecoin markets, because spreads widen.
“in the fiat FX markets, as you get bigger, your pricing comes down. In the crypto markets, as you get bigger, your pricing goes up because the spreads widen.”
Undated
Zach Abrams says on some blockchains an address must be funded and prepared before it can receive USDC, which gets expensive when creating millions of wallets.
“in order to make the address, make it possible for that address to accept USDC, you have to fund it and prime it so that it is available to accept that USDC.”
Undated
Bridge issues stablecoins for Phantom, MetaMask and Hyperliquid through its open issuance platform.
“today we're issuing stablecoins with Phantom, we're issuing stablecoins with MetaMask, we're issuing stablecoin for Hyperliquid.”
Undated
Zach Abrams says Bridge started about three years before the recording and its APIs had been available for roughly two years.
“we started the company three years ago. Our APIs were available for like roughly two years.”
Episodes