Stripe Acquires Crypto Wallet Startup Privy to Expand Blockchain Toolset

Stripe is acquiring Privy, a leading crypto wallet infrastructure provider, to enhance its blockchain capabilities and simplify crypto integration for mainstream applications. The move reflects Stripe’s broader strategy to build seamless blockchain tools for developers and businesses.

Privy offers embedded wallets that allow users to interact with decentralized apps without needing to connect external wallets like MetaMask. Its tech is already in use by platforms such as decentralized exchange Hyperliquid, restaurant loyalty service Blackbird, and HR management firm Toku, helping streamline user onboarding and reduce friction.

Founded in 2021 and headquartered in New York, Privy has powered over 75 million accounts and partnered with more than 1,000 teams, facilitating billions of dollars in wallet-based transactions. The startup has raised over $40 million from top-tier backers including Paradigm, Coinbase, and Sequoia Capital, according to data from TheTie.

While the acquisition terms remain undisclosed, Bloomberg first reported the deal, which was later confirmed by Privy. The firm will continue to operate independently post-acquisition but will be integrated into Stripe’s growing suite of crypto services.

This acquisition follows Stripe’s $1.1 billion purchase of Bridge, a stablecoin infrastructure firm. That deal led to the launch of Stripe accounts funded with stablecoins such as USDC, enabling cross-border transactions with blockchain-native assets.

With Privy onboard, Stripe is doubling down on its commitment to making blockchain infrastructure accessible and practical for everyday digital products. The acquisition is expected to close in the coming weeks, further solidifying Stripe’s role in the evolving crypto-fintech landscape.