Stablecoin payment company Bridge has completed a $58 million financing round, with participation from Sequoia Capital and others.

according to The Block, Web3 payment company Bridge, founded by former Coinbase and Square employees, has completed a $58 million funding round, with participation from Sequoia Capital, Ribbit, Index, and Haun Ventures.

Bridge is building a stablecoin-based payment platform that offers services such as cross-border payments and foreign currency exchange. It has already partnered with Bitso to launch stablecoin-based B2B cross-border payments in Latin America.