Stripe Acquires Crypto Wallet Developer Privy to Expand Stablecoin Ambitions

Stripe has acquired Privy, a crypto wallet infrastructure firm, marking its latest step toward building deeper integration between traditional finance and digital assets. The terms of the deal remain undisclosed.

Privy confirmed the acquisition on June 11. It stated that it will continue operating independently while becoming an embedded product within Stripe’s broader payments ecosystem. According to Privy, the acquisition provides it with “more resources, flexibility, and firepower” to serve developers building on crypto rails.

Privy’s Role in the Web3 Stack

Privy offers a developer-friendly API for creating and managing self-custodial wallets. The platform is currently used by over 1,000 teams, powering more than 75 million accounts. It supports functions such as transaction signing and integration with blockchain systems. Privy has quietly become a key part of the Web3 infrastructure layer, facilitating billions of dollars in digital transactions.

CEO Henri Stern said the company shares Stripe’s vision of bridging fiat and crypto systems to the point where the distinction becomes seamless. “Together, we can change how value moves through the internet,” he wrote.

Stripe’s Renewed Crypto Push

The acquisition follows Stripe’s renewed interest in crypto infrastructure, especially stablecoins. After stepping away from the sector in 2018, the company re-entered in October 2024 by enabling USDC-based stablecoin payments for merchants. By May 2025, Stripe had expanded this feature to over 100 countries, treating stablecoin accounts similarly to traditional bank accounts.

The move reflects growing institutional interest in stablecoins. Stripe co-founder John Collison has said that banks are increasingly exploring ways to integrate stablecoin functionality into their services.

“Stablecoins are the underdog that everyone’s sleeping on,” Collison said. He also noted the broader shift toward AI-driven commerce, suggesting that stablecoins and artificial intelligence are set to reshape the digital economy.

Why It Matters

Privy strengthens Stripe’s ability to support Web3-native applications, especially those that require secure wallet infrastructure and on-chain interactions. For Stripe, this acquisition adds depth to its expanding suite of crypto tools, which now includes stablecoin support, cross-border payouts, and multi-currency wallets.

The deal also reflects a broader trend in fintech: the convergence of digital asset infrastructure with mainstream financial platforms. As stablecoins gain traction and wallet functionality becomes more embedded, companies like Stripe are positioning themselves at the intersection of both.

Looking Ahead

With Privy now under its wing, Stripe is expected to accelerate its efforts in the crypto space. It may expand stablecoin support to more blockchains, roll out new wallet-related products, and work with institutional partners exploring on-chain financial services.

This acquisition suggests Stripe is not simply experimenting with crypto—it is building a long-term strategy to make digital value transfer as seamless as sending an email.