Stripe Finalizes Privy Acquisition to Boost Crypto

Stripe has officially acquired Privy, a crypto wallet infrastructure provider whose technology enables seamless, embedded wallet creation in apps and websites, removing the need for external wallets such as MetaMask or Coinbase. This acquisition follows Stripe’s earlier $1.1 billion purchase of stablecoin platform Bridge and marks an aggressive expansion into Web3 and digital assets. Privy powers over 75 million accounts and has facilitated billions in transactions, supporting clients like OpenSea and Hyperliquid. The move is expected to enhance user experience by simplifying crypto onboarding and aligns with a broader trend, as most Fortune 500 companies now develop blockchain-based projects. Privy will continue to operate independently under Stripe, maintaining its brand and autonomy. The acquisition has been met with positive market reactions, notably boosting fintech stocks and crypto tokens.