Stripe is making another bold move into the crypto space with the acquisition of Privy, a crypto wallet infrastructure startup, for an undisclosed sum. This acquisition follows Stripe’s recent $1.1 billion purchase of stablecoin platform Bridge and marks a strategic return to the crypto market after a six-year hiatus.
Privy, founded just three years ago, simplifies the process of building crypto-enabled applications. Its single API allows developers to seamlessly create wallets, sign transactions, and connect to on-chain systems—without relying on third-party wallet providers. Today, Privy claims to power over 75 million accounts and supports more than 1,000 developer teams, handling billions in transaction volume. Key clients include the trading platform Hyperliquid and restaurant-focused Web3 app Blackbird.
Stripe plans to run Privy as an independent product, similar to its approach with Bridge. The move highlights Stripe’s commitment to modernizing financial infrastructure and bringing crypto capabilities to its vast ecosystem of merchants and developers.
Privy’s founders, Henri Stern and Asta Li, say the acquisition will amplify their ability to transform how value moves online. “Joining Stripe will accelerate our work to shape this future and provide powerful new capabilities to Stripe and Privy customers alike,” they stated.
As digital finance increasingly merges with blockchain, Stripe’s growing crypto portfolio could give it a leading edge in redefining how transactions are built, managed, and scaled across the internet.