Stripe Acquires Crypto Wallet Firm Privy to Advance Crypto Wallet Integration

Highlights:

• Stripe has acquired Privy to offer wallet services inside apps and boost its crypto infrastructure tools.
• Privy helps users create wallets without third-party apps and supports over 75 million accounts.
• Stripe has expanded its stablecoin services and now reaches businesses in over 100 countries.

Payments company Stripe has moved further into the crypto sector by acquiring wallet infrastructure startup Privy. While the financial terms were not shared, Stripe confirmed that Privy will continue running as an independent product inside its broader ecosystem. This is Stripe’s second major acquisition in the space after buying stablecoin platform Bridge earlier this year for $1.1 billion.

1/ Today, we're proud to announce that Stripe is acquiring Privy.

We couldn’t be more excited.

Privy will continue as an independent product – but now we’ll move faster, ship more, and serve you even better, so you can stay focused on your users. pic.twitter.com/8CHJqhqYy7

— Privy (@privy_io) June 11, 2025

By acquiring Privy, Stripe takes another step toward building complete crypto infrastructure for businesses. The move combines wallet creation, stablecoin payments, and fiat integrations within a single system. Privy was founded in 2021 by Henri Stern and Asta Li and has since gained wide recognition for its wallet integration services. It assists developers in integrating wallets within applications, eliminating the use of third-party applications, such as MetaMask or Coinbase Wallet.

This strategic step occurs when an increasing number of companies seek an easier way to onboard into crypto. The emphasis on simplifying user experiences by Stripe also coincides with the growing industry demand for supporting digital assets. The company had already re-entered the crypto market last year and launched several products. Now, the Privy acquisition helps fill one of the remaining gaps by allowing embedded wallets for users who want fast, secure, and simple access to crypto services.

Stripe Acquires Privy to Strengthen Embedded Wallet Capabilities

The technology Privy develops enables users to generate crypto wallets in the applications they are currently using without the need to change platforms. This implies that users may store digital assets or execute transactions without integrating an external wallet. This process reduces user friction and increases app engagement. Privy’s system is already in use across more than 1,000 development teams and powers over 75 million accounts. Some popular apps using Privy include OpenSea, Pump.fun, and Hyperliquid.

Stripe has been building its stablecoin capabilities over the past year. It rolled out stablecoin financial accounts in May, which allow companies to store and transact in digital dollars. These accounts currently support USDC issued by Circle and USDB issued by Bridge, and the service is now available to customers in more than 100 countries. This product came after Stripe launched stablecoin payments in 70 countries in October 2024, which gained adoption rapidly.

Businesses are still considering stablecoins because they can process transactions in different parts of the world effectively. Stablecoins have already seen $27.6 trillion worth of transactions settled in the first quarter of 2025, surpassing the entire volume of Visa in 2023 by more than twice.

Long-Term Vision Signals Stripe’s Renewed Crypto Commitment

Stripe has a long history with crypto. It was one of the first large payment firms to support Bitcoin transactions, which it started to do in 2014. The service, however, was closed in 2018 because of the slow speed of transactions and high fees. The company reentered the crypto industry in 2021 by reestablishing its blockchain department and developing new products.

Its ongoing investment indicates a high interest in promoting future digital financial systems. Privy will complement the Stripe platform and enable businesses to offer both physical and digital payment methods to customers under a single provider. Stripe is currently working on unifying these systems in a manner that the distinction between crypto and fiat will be almost unnoticeable to end users.