Payment Giant Stripe to Acquire Crypto Wallet Provider Privy

Stripe, the global payment processing powerhouse, has announced its acquisition of Privy, a cryptocurrency wallet infrastructure provider, for an undisclosed sum. The move, revealed on June 11, marks Stripe’s second significant foray into the digital asset space this year, following its $1.1 billion acquisition of stablecoin infrastructure firm Bridge. The acquisition aims to enhance Stripe’s ability to integrate seamless and secure crypto wallet solutions for its clients, potentially reshaping how businesses interact with blockchain-based payments.

Privy’s Role in Simplifying Crypto Adoption

Founded in 2021, Privy specializes in embedded wallet infrastructure, enabling developers to integrate secure, user-friendly crypto wallets into applications without requiring end-users to navigate complex blockchain processes like seed phrases or gas fees. Its technology has been adopted by prominent platforms such as OpenSea, the leading non-fungible token (NFT) marketplace, Farcaster, Hyperliquid, and crypto payments app Blackbird, streamlining processes like NFT purchases and on-chain transactions.

Privy’s infrastructure leverages advanced security measures, including secure enclaves and Shamir’s Secret Sharing, ensuring private keys are split and reconstructed only in trusted environments, enhancing user safety. Its unified API supports wallet creation, transaction signing, key management, gas abstraction, and webhook-based on-chain event handling, making it a versatile tool for developers building crypto-native experiences.

“Like us, Stripe believes in the power of bringing crypto and fiat closer together,” Privy stated in a blog post on June 11. “Joining Stripe will accelerate our work to shape this future and provide powerful new capabilities to Stripe and Privy customers alike. Together, we can change how value moves through the Internet.”

Strategic Synergy with Bridge Acquisition

Stripe’s acquisition of Privy follows its 2024 purchase of Bridge, a stablecoin infrastructure platform, signaling a deliberate strategy to bridge traditional finance and blockchain ecosystems. Stablecoins, pegged to assets like the U.S. dollar, have grown significantly, with their market capitalization exceeding $251 billion as of June 12. According to a statement from Stripe cited by FXStreet, Stripe’s CEO Patrick Collison emphasized the synergy between the two acquisitions, aiming to combine the unique capabilities of both companies to “enable a new generation of global, Internet-native financial services.”

The integration of Privy’s wallet technology with Bridge’s stablecoin infrastructure could allow Stripe’s clients — ranging from small businesses to large enterprises — to seamlessly accept and process crypto payments, including stablecoin transactions, within their existing payment flows. This aligns with Stripe’s broader vision of creating a unified payment ecosystem where fiat and digital assets coexist.

Broader Acquisition Trends

The acquisition comes amid a surge in crypto industry mergers and acquisitions, driven by improved regulatory clarity in the U.S. under the Trump administration and a push for scalable blockchain infrastructure. Notable deals in 2025 include Coinbase’s $2.9 billion acquisition of Deribit, Kraken’s $1.5 billion purchase of NinjaTrader, and Ripple’s $1.25 billion takeover of Hidden Road.

Acquiring established firms is more cost-effective than building from scratch, allowing companies to bypass lengthy development cycles and instantly gain access to customers, technology, and licenses. This strategy is gaining traction across the crypto ecosystem, from exchanges to payment infrastructure and derivatives markets. Through acquisitions, new market entrants can integrate and scale operations, while companies already profiting in the crypto space can secure premiums and pursue strategic pivots.

Privy’s Future Under Stripe

Privy will operate independently within Stripe, continuing to serve its existing clients while benefiting from Stripe’s resources to expand its reach. The deal, expected to close in the coming weeks, follows Privy’s $40 million funding round led by Ribbit Capital, Definition, and Coinbase Ventures, highlighting its growth potential.

Stripe’s acquisition of Privy positions it as a formidable player in the crypto payment infrastructure space, complementing its existing fiat payment solutions. As businesses increasingly explore blockchain-based financial services, Stripe’s strategic investments in Privy and Bridge could pave the way for broader adoption of digital assets in global commerce.