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Stripe buys crypto wallet startup Privy, following its earlier acquisition of Bridge
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The deal supports Stripe’s growing interest in stablecoin integration
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Privy has over 75 million accounts and serves major crypto platforms
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Stripe aims to simplify crypto adoption across fintech and DeFi
Acquisition Highlights Stripe’s Crypto Ambitions
Stripe has acquired Privy, a crypto wallet infrastructure startup, as part of its broader expansion into blockchain and stablecoin services. The deal follows Stripe’s $1.1 billion purchase of stablecoin platform Bridge earlier this year and aligns with the company’s rollout of stablecoin-based payment features.
Privy’s Wallet Stack Attracts Top Blockchain Firms
Privy offers a flexible wallet infrastructure used by platforms like OpenSea, Farcaster, and Hyperliquid. The tech simplifies wallet integration by abstracting complexities such as seed phrases, allowing apps to onboard users with fewer technical barriers. Privy currently supports over 75 million accounts.
Stripe Eyes Seamless Crypto-Fiat Convergence
The acquisition is part of Stripe’s vision to blend traditional finance with blockchain technology. Privy will continue operating independently but will gain resources from Stripe to accelerate development. Together, they aim to enhance the user experience for crypto payments, stablecoin usage, and digital asset storage.
Backing from Leading VCs
Privy previously raised over $40 million from investors including Sequoia, Paradigm, Ribbit Capital, and Coinbase. The Stripe deal comes amid a broader wave of traditional financial players increasing their exposure to stablecoins, signaling institutional confidence in digital asset infrastructure.
