Payments Giant Stripe to Acquire Crypto Wallet Tech Firm Privy

Stripe, the payments behemoth, is making another strategic move into crypto with its acquisition of Privy, a firm specializing in embedded wallet technology. The deal, expected to close soon, will see Privy operate independently under Stripe''s umbrella. Financial terms remain undisclosed.

Privy''s infrastructure powers seamless onboarding for crypto applications, eliminating the friction of seed phrases and enabling in-app asset management. Its clients include notable platforms like OpenSea and Pump.fun. Stripe CEO Patrick Collison framed the acquisition as part of broader ambitions to build internet-native financial services, citing Privy''s programmable vaults alongside Stripe''s stablecoin initiatives.

The transaction marks Stripe''s second major crypto acquisition in twelve months, signaling sustained institutional interest in web3 infrastructure despite market cycles. Privy''s embedded solutions already touch millions of crypto users indirectly through consumer-facing applications.