Ryan Adams

The Stripe acquisition of Bridge was the previous large one at $1.1 billion back in February 2025.

We have a new high watermark at $1.8 billion.

See, the longer TradFi waits, the more expensive it's going to get.

That's right.

You better do your acquisitions now.

That's my takeaway too.

Almost twice the price.

Yeah, it's more like a bank collateral than a payment token.

You know what this reminds me of?

What's that?

Remember during Operation Chokepoint 2.0, you had the Signet from Signature and there's another like payment standard.

So a lot of the same crypto companies use Signet from Signature and the other one that I can't remember the name of.

Yeah, like a bank-to-bank.

bank payment gateway type thing.

Bank to bank payment gateway.

And they would settle up between each other because there was the standard that allowed for very rapid dollar payments for exchanges to be able to like load balance and trade between each other.

It's just very crypto native backend banking way to send money around.

This kind of reminds me of that.

So there's five banks, five regional banks, they say, all on the Kari network, all on the same ZK circuit, which allows for very fast transactions to happen between them.

And if it's all on the ZK circuit, there's some notion of composability and it's the private in the way that the bank wants.