Stripe Snags Crypto Wallet Startup Privy in Latest Digital Asset Push

Hold onto your hats, folks! Stripe, the payment giant, is making another bold move into the wild world of crypto. They've just inked a deal to acquire Privy, a hotshot crypto wallet infrastructure startup. Bloomberg broke the news, and the crypto community is buzzing!

This comes hot on the heels of Stripe's massive $1.1 billion acquisition of the stablecoin platform Bridge. As for the Privy deal? Well, the financial details are under wraps, but you know it's gotta be juicy!

Privy, founded in 2021, is shaking things up by letting companies seamlessly integrate crypto wallets right into their platforms. We're talking big names like NFT marketplace OpenSea, loyalty platform Blackbird, and global employment firm Toku. These guys are the real deal!

Privy's mission? To make crypto accessible to everyone, not just the tech wizards. By ditching those pesky external wallet setups, they're making it a breeze for newbies to dive into the crypto pool. And get this: they were last valued at a cool $230 million back in March 2025. Cha-ching!

Privy's CEO, Henri Stern, isn't holding back. "Wallets were powerful but inaccessible for all but the most technical," he said. "Developers had to send users off-platform to get started, breaking flows and killing user conversion." Ouch! But Privy's here to fix that mess.

Privy's Independent Operations

Now, don't worry, Privy fans. Stripe says the startup will keep doing its own thing, just like Bridge did. This acquisition is all about beefing up Stripe's game plan to offer end-to-end infrastructure for businesses diving into the crypto world.

And guess what? It's also a big boost for Stripe's new stablecoin initiatives, like those USDC- and USDB-funded merchant accounts. The future is looking bright for Stripe in the crypto space!

Mark your calendars, because this deal is set to close in the coming weeks. Get ready for a wild ride, folks!