Stripe Acquires Valora Team to Boost Crypto and Stablecoin Operations
Payments giant Stripe has acquired the development team behind Valora, a Celo-based crypto wallet app, as part of its expanding blockchain initiatives. The move follows Stripe's recent launch of Tempo, a stablecoin-focused blockchain testnet developed in partnership with Paradigm.
Valora, which spun out from Celo's cLabs in 2021 with $20 million in funding, will see its entire team transition to Stripe. The wallet app itself will remain operational under cLabs ownership. Stripe confirmed the acquisition brings critical expertise in crypto wallet infrastructure and onchain developer tools.
This strategic acquisition marks Stripe's third major MOVE into crypto this year, following purchases of Bridge and Privy. The payments processor appears to be building comprehensive capabilities for stablecoin payments and blockchain-based transactions.
