Stripe to Buy Crypto Wallet Firm Privy, Deepening Stablecoin Push

54 posts • OpenAI (o3)

Updated Jun 11, 2025, 04:52 PM

Payments company Stripe said on 11 June it has agreed to acquire Privy, a developer of crypto-wallet infrastructure, for an undisclosed amount, according to statements by both firms and a Bloomberg report.

Privy’s software allows developers to embed custodial and non-custodial wallets that can be accessed with familiar Web2 credentials, easing consumer onboarding. Stripe said Privy will continue to operate as an independent product while gaining additional resources to accelerate product development.

The transaction follows Stripe’s US$1.1 billion purchase of stable-coin infrastructure provider Bridge earlier this year, underscoring the San Francisco-based company’s push to expand its crypto and on-chain payments offerings for the roughly eight million merchants that use its platform.

Co-founder and Chief Executive Officer Patrick Collison said Privy’s "programmable vaults" complement Stripe’s stable-coin work and will help enable a new generation of globally accessible, internet-native financial services. The companies did not disclose a closing timeline.

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#Stripe #Privy #Bloomberg #Web2 #Bridge #San Francisco #Patrick Collison

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David Tisch

@davidtisch

Congrats @henri_stern and team - amazing combination of ambition with @stripe….

RYAN SΞAN ADAMS - rsa.eth 🦄

@RyanSAdams

Stripe is absolutely positioning itself for dominance in the stablecoin revolution here. 8 million merchants worldwide. Onboarding them to native crypto wallets.