Stripe Acquires Privy to Boost Crypto Wallet Capabilities

Coin WorldWednesday, Jun 11, 2025 11:48 am ET
1min read

Stripe Inc., a leading payment processing company, has agreed to acquire Privy, a prominent crypto wallet provider. This acquisition follows Stripe's recent purchase of Bridge, a stablecoin infrastructure firm, further solidifying its presence in the cryptocurrency and stablecoin sectors. Privy will continue to operate as an independent product under Stripe's umbrella, leveraging the resources and support of the larger organization to enhance its services and reach.

Privy's technology and expertise in crypto wallet infrastructure will complement Stripe's existing capabilities, enabling the company to offer more robust and secure payment solutions. The acquisition is part of Stripe's broader strategy to stay at the forefront of financial technology and adapt to the evolving needs of its customers. By integrating Privy's services, Stripe can provide a more frictionless and efficient payment experience, catering to the growing demand for cryptocurrency-based transactions.

The acquisition of Privy aligns with Stripe's strategic goal of integrating cryptocurrency solutions into its payment ecosystem. By acquiring Privy, Stripe aims to provide its customers with more comprehensive and seamless financial services, including the ability to manage and transact with cryptocurrencies. This move is expected to empower developers and businesses to innovate in the financial technology space, making it easier for value to move through the internet.

Privy expressed enthusiasm about the acquisition, stating that Stripe's craft, ambition, and willingness to imagine new worlds impressed them. Both companies share a vision of bringing crypto and fiat closer together to change how value moves through the Internet. This acquisition is just the latest example of Stripe doubling down on crypto, following its purchase of Bridge for $1.1 billion in one of the largest crypto acquisitions in history last year. Stripe also reintegrated crypto payments in the US last fall and announced Stablecoin Financial Accounts, allowing businesses to hold their balances in stablecoins and receive funds on both crypto and fiat rails.