Stripe Acquires Crypto Wallet Startup Privy to Bolster Web3 Offerings

Stripe is making another strategic move into the crypto space with its acquisition of Privy, a startup specializing in embedded wallet infrastructure. The deal, terms of which remain undisclosed, aims to simplify blockchain integration for mainstream digital products.

Privy''s technology eliminates the need for external wallets like MetaMask by providing embedded solutions for apps and websites. Its client roster includes decentralized exchange Hyperliquid and loyalty platform Blackbird, with the startup claiming over 75 million accounts powered since its 2021 launch.

The acquisition follows Stripe''s $1.1 billion purchase of stablecoin infrastructure firm Bridge earlier this year. While Privy will maintain independent operations, its technology will be integrated into Stripe''s growing suite of crypto tools.