crypto.news 2025-06-11 15:43:46

Stripe to acquire crypto wallet startup Privy: report

Stripe has agreed to acquire Privy, a crypto wallet infrastructure startup, as part of its broader push into digital assets, according to Bloomberg reporting. The deal comes weeks after Stripe’s $1.1 billion acquisition of stablecoin platform Bridge . Financial terms of the Privy transaction were not disclosed, according to Bloomberg. Founded in 2021, Privy enables companies to integrate crypto wallets directly into their platforms. Its clients include NFT marketplace OpenSea, loyalty platform Blackbird, and global employment firm Toku. By removing the need for external wallet setups, Privy aims to reduce friction for new crypto users. The startup was last valued at $230 million in March 2025. “Wallets were powerful but inaccessible for all but the most technical,” said Privy CEO Henri Stern. “Developers had to send users off-platform to get started, breaking flows and killing user conversion.” You might also like: Dow Jones gains 142 points as Trump claims China trade deal is ‘done’ Privy’s independent operations Stripe said Privy will continue to operate independently, similar to Bridge. The acquisition strengthens Stripe’s ambitions to offer end-to-end infrastructure for businesses building crypto-enabled services. It also supports Stripe’s new stablecoin initiatives, including USDC- and USDB-funded merchant accounts. The deal is expected to close in the coming weeks. You might also like: Algorand price wobbles despite surge in active addresses and transactions