Stripe set to purchase crypto wallet company Privy, as per news reports.
Breaking News:
Stripe, the leading payments platform, has announced its acquisition of Privy, a revolutionary crypto wallet infrastructure startup, as part of its aggressive move into the digital assets sphere. This comes hot on the heels of Stripe's $1.1 billion acquisition of the stablecoin platform Bridge.
The Privy deal, which financial details remain undisclosed, is aimed at boosting Stripe's entry into the digital assets market. Established in 2021, Privy empowers companies to integrate crypto wallets directly into their platforms, a feature that's already been adopted by big names like OpenSea, Blackbird, and Toku.
Privy's mission is to eliminate the hurdles faced by new crypto users by eliminating the need for external wallet setups. Lineup with this vision, Privy's last valuation stood at a whopping $230 million in March 2025.
"Wallets were obstacles, inaccessible for all but the most tech-savvy," said Henri Stern, Privy's CEO. "Developers had to lead users off-platform to get started, resulting in broken flows and dwindling user conversion."
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Stripe's Strategic Moves in the Digital Assets and Stablecoin Space
Stripe's acquisitions of Privy and Bridge are strategic maneuvers designed to bolster its capabilities in the digital assets and stablecoin arena.
The acquisition of Privy, a provider of white-label onboarding and wallet services for developers, allows Stripe to expand its offerings in crypto solutions, making it easier for users to interact with digital assets. Meanwhile, the integration of Privy promises a smooth onboarding and wallet management experience for users, potentially boosting adoption and ease of use.
On the other hand, the purpose of the less-detailed Bridge acquisition remains unclear, but it's evident that Stripe is strive to expand its Web3 capabilities through strategic acquisitions.
With these acquisitions, Stripe aims to strengthen its end-to-end infrastructure for businesses building crypto-enabled services and support its new stablecoin initiatives like USDC- and USDB-funded merchant accounts. The deal is expected to close within weeks.
- Stripe, in its quest to bolster its digital assets and stablecoin offerings, has acquired crypto wallet infrastructure startup Privy, aiming to simplify user interaction with digital assets.
- The merger with Privy, a provider of white-label onboarding and wallet services, will expand Stripe's capabilities in crypto solutions, offering a seamless onboarding and wallet management experience to users.
- As part of its broader strategy, Stripe has also acquired the stablecoin platform Bridge, signaling its intention to expand its Web3 capabilities through strategic acquisitions.
- The integration of Privy's technology, alongside the capabilities gained from the bridge acquisition, will propel Stripe towards becoming a comprehensive financial technology platform, offering end-to-end infrastructure for businesses building crypto-enabled services.
