Oct 21 (Reuters) - Stripe will buy stablecoin

infrastructure provider startup Bridge, the fintech said in a

tweet on Monday without disclosing the deal value.

The deal is valued at $1.1 billion, Forbes reported last

week, citing people familiar with the matter.

Stripe declined to comment on the transaction's value when

contacted by Reuters.

Stripe, founded by billionaires John Collison and Patrick

Collison in 2010, was valued at $65 billion earlier this year

and is among the highest valued private startups in the U.S.

Digital currencies are gaining traction after the U.S.

Securities and Exchange Commission allowed bitcoin spot

exchange-traded funds earlier this year, easing scrutiny and

paving way for cryptocurrencies to be accepted by major firms.

Last year, PayPal launched a U.S. dollar stablecoin to

become the first major financial technology company to adopt

digital currencies for payments and transfers.