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- Stripe acquires Privy to expand cryptocurrency services
- Privy will integrate digital wallets directly into apps
- Deal marks Stripe’s new bet on stablecoins
Global fintech giant Stripe has entered into an agreement to acquire Privy, a New York-based cryptocurrency wallet infrastructure provider. The acquisition is part of the company’s strategy to deepen its presence in the crypto space and follows its recent $1,1 billion purchase of Bridge, a stablecoin solutions provider.
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
Privy will continue to operate as a standalone product, offering tools that make it easy to integrate digital wallets directly into consumer apps. “Privy will continue as a standalone product, but now we’ll be faster, deliver more, and serve you even better, so you can focus on your users,” the company said.
According to Patrick Collison, CEO of Stripe, the technology developed by Privy is an important piece in building a secure financial infrastructure aligned with the internet. “Money has to live somewhere, and Privy builds the best programmable vaults in the world,” he said. Collison also highlighted that the integration with Privy complements Stripe’s efforts with stablecoins, targeting a new generation of digital financial services.
Designed to simplify user onboarding for decentralized applications, Privy offers developer libraries and wallet solutions that eliminate the need for third-party platforms like MetaMask. The company’s goal is to enable users to create and manage wallets with email login or other traditional methods, without having to deal directly with the complexities of cryptocurrencies.
The startup is backed by renowned funds such as Sequoia Capital, Paradigm, Ribbit Capital and Coinbase Ventures. Sequoia praised the acquisition and said that the partnership will allow Privy to expand its reach. “Joining Stripe will enable Privy to serve its existing customers with more capabilities and empower more developers to change the way value moves across the internet.”
The acquisition is expected to close in the coming weeks, subject to completion of legal procedures.
