traditional banking industry

Stripe and Advent have made a $53 billion bid to acquire PayPal, which has seen its valuation drop from $360 billion in 2021 to $36 billion due to competition from Apple Pay and other rivals. Stripe's subsidiary Bridge recently received conditional approval for a national trust bank charter, a move opposed by traditional banks, and acquiring PayPal would provide access to 400 million customers and their online wallets to support Stripe's stablecoin plans. PayPal has not acknowledged the offer.