Stripe Acquires Privy to Power Seamless Crypto Wallet Integration for Developers

• Privy powers over 75 million accounts across 1,000+ teams with embedded crypto wallets.
• Stripe’s acquisition follows its $1.1B stablecoin firm Bridge purchase to boost crypto tools.
• Privy will continue operating independently while integrating into Stripe’s crypto suite.

Stripe has agreed to acquire Privy, a provider of crypto wallet infrastructure, in a move designed to simplify digital asset onboarding for mainstream businesses. Privy, located in New York, is recognized for enabling apps and platforms to embed crypto wallets into user experiences seamlessly. 

The transaction’s terms remain undisclosed, but the deal is expected to close in the coming weeks. The acquisition follows Stripe’s recent $1.1 billion purchase of Bridge, a stablecoin infrastructure firm.Privy’s technology serves as a key bridge between decentralized platforms and everyday users. Instead of forcing consumers to set up external wallets with providers like MetaMask or Coinbase, Privy enables embedded wallets within partner applications. OpenSea, the major NFT marketplace and platforms like Blackbird and Toku already use Privy’s services to enhance user engagementAccording to Privy’s co-founder and CEO Henri Stern, “When we started, wallets were powerful but inaccessible for all but the most technical.” He added that eliminating off-platform wallet creation has boosted user conversion and reduced friction for new entrants to the crypto space.