PayPal's board has turned down a takeover bid from Stripe and private equity firm Advent International that valued the payments giant at over $53 billion. The unsolicited offer, priced at $60.50 per share, was rejected this week, according to people familiar with the matter. The bid had raised eyebrows because of its potential to combine PayPal's stablecoin PYUSD with Stripe's growing crypto capabilities.
The bid details
Stripe and Advent International made their approach in recent weeks, offering $60.50 a share — a premium over PayPal's trading price at the time. The total valuation topped $53 billion. Stripe, which already processes crypto payments and has its own stablecoin ambitions, saw a deal as a way to accelerate its push into digital currencies. Advent, a major tech investor, would have provided the financial backing.
But PayPal's board wasn't interested. The company has been working to turn around its business after a rough patch in the public markets, and management appears to believe it can create more value on its own.
Why the bid mattered for crypto
The offer wasn't just about payments volume. At the center of the potential deal was PYUSD, PayPal's dollar-pegged stablecoin launched in 2023. Stripe has been building out its own crypto infrastructure — it supports USDC payments and has experimented with stablecoin settlements. A merger would have put PYUSD into Stripe's merchant network, giving the stablecoin a much bigger footprint.
That combination is now off the table, at least for now. But the bid itself signals that major players see stablecoins as a strategic asset worth billions.
What happens next
PayPal will continue operating independently, with its own plans for PYUSD and crypto services. Stripe and Advent will have to look elsewhere for a big crypto payments play. The rejection doesn't rule out another offer down the line, but for now, the board has made its position clear.
