Share this article
Stripe to Acquire Crypto Wallet Startup Privy in Bid to Expand Web3 Capabilities
Privy’s technology, used by platforms like OpenSea and Blackbird, will be integrated into Stripe’s crypto tools.
Jun 11, 2025, 4:15 p.m.
Make us preferred on Google
What to know:
- Stripe is acquiring Privy, a crypto wallet infrastructure provider, for an undisclosed amount.
- Privy creates embedded wallets for apps and websites, simplifying crypto onboarding and reducing user drop-off.
- The acquisition follows Stripe’s purchase of Bridge, a stablecoin infrastructure firm, and aims to make cryptocurrencies easier for developers to integrate.
Stripe is acquiring crypto wallet infrastructure provider Privy, as part of its broader plan to make blockchain tools easier to integrate into mainstream digital products.
Privy creates embedded wallets for apps and websites, sparing users from having to sign up for external crypto wallets like MetaMask. Terms of the transaction, which was first reported by Bloomberg and confirmed by Privy, weren’t disclosed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The firm’s technology is used by decentralized exchange Hyperliquid, restaurant loyalty firm Blackbird, and HR platform Toku to simplify onboarding and reduce user drop-off.
Privy revealed that since it was launched in 2021, it has grown to power over 75 million accounts across over 1,000 teams “enabling billions in transactions across wallets, apps, and users.”
The New York-based firm has raised over $40 million from investors including Paradigm, Coinbase, and Sequoia Capital, according to data from TheTie.
The acquisition comes after Stripe purchased Bridge, a stablecoin infrastructure firm, for $1.1 billion. That deal led to Stripe launching stablecoin-funded accounts, enabling businesses to hold and move funds abroad using tokens like USDC.
Privy will continue to operate independently but will be integrated into Stripe’s suite of crypto tools.The acquisition is expected to close in the coming weeks.
More For You
Больше для вас
American crypto holders are scared and confused about this year’s new IRS tax rules
Crypto tax platform, Awaken Tax, polled 1,000 crypto holders about a radical shift from self-disclosure to automatic reporting of transactions.
Что нужно знать:
- New rules compel crypto exchanges like Coinbase to issue a Form 1099-DA to the IRS this week.
- The rules are a “blunt instrument,” according to Awaken Tax founder Andrew Duca, created by legislators who know nothing about crypto.
- The onus falls on the holder of crypto to “patch” what’s missing in terms of their crypto acquisition costs and actual tax basis.
Top Stories
