Stripe is making another strategic move into the crypto space with its acquisition of Privy, a New York-based startup specializing in embedded crypto wallet infrastructure. The deal, first reported by Bloomberg and confirmed by Privy, underscores Stripe’s ambition to streamline blockchain integration for mainstream digital products—eliminating the friction that often comes with crypto adoption. While financial terms remain undisclosed, the acquisition signals Stripe’s deepening commitment to bridging traditional finance with decentralized technologies.
Privy’s technology allows apps and websites to embed wallets directly into their platforms, bypassing the need for users to rely on external wallets like MetaMask. This seamless approach has already won over major players, including decentralized exchange Hyperliquid, restaurant loyalty program Blackbird, and HR platform Toku—all of which use Privy to simplify onboarding and reduce drop-off rates. Since its launch in 2021, the company has powered more than 75 million accounts across 1,000 teams, facilitating billions in transactions.
Backed by over $40 million in funding from heavyweights like Paradigm, Coinbase, and Sequoia Capital, Privy has positioned itself as a key enabler of user-friendly crypto adoption. Its acquisition by Stripe follows another major crypto-related purchase earlier this year: the $1.1 billion deal for stablecoin infrastructure firm Bridge. That acquisition led to Stripe’s launch of stablecoin-funded accounts, allowing businesses to transact globally using tokens like USDC.
For now, Privy will continue operating independently, though its technology will eventually be woven into Stripe’s expanding suite of crypto tools. The deal is expected to finalize in the coming weeks, marking another step in Stripe’s broader strategy to make blockchain transactions as effortless as traditional digital payments.
As crypto adoption grows, Stripe’s aggressive investments suggest a clear bet on the future of embedded finance—one where wallets, stablecoins, and blockchain transactions are invisible to the end user but deeply integrated into everyday digital experiences. For businesses and consumers alike, that future may arrive sooner than expected.
