Stripe Acquires Privy, Strengthening Its Position in Web3
Date: 2025-06-13 Author: Henry Casey Categories: BUSINESS
Fintech company Stripe has acquired Privy, a startup specializing in creating Web3 wallets and infrastructure for cryptocurrency integration. Although the terms of the deal were not made public, both parties confirmed that Privy will continue to operate as a standalone product.
The Privy team said that with Stripe’s support, they will be able to accelerate development, release updates more often, and improve the user experience. Despite joining the giant, the company will not lose its autonomy, which will allow it to maintain flexibility in decision-making.
Stripe remains one of the leaders in the financial technology sector. Last year, the platform processed transactions worth over $1 trillion, which underlines its significant impact on the global payments market.
Privy was launched three years ago and has attracted more than 75 million users since then. The key feature of the product is the implementation of account abstraction technology, which allows crypto wallets to be integrated into various ecosystems without the need for complex setup. The startup's clients include OpenSea, Hyperliquid, Farcaster, Blackbird, and Toku.
In March of this year, Privy received $15 million in investments as part of a round organized by Ribbit Capital. Other participants included Sequoia Capital, Paradigm, BlueYard, and Coinbase. The company's total raised funds have already exceeded $40 million, indicating high investor interest in its solutions.
It is important to note that the acquisition of Privy is not Stripe's first major deal this year. In February, the company bought the Bridge platform for $1.1 billion, and three months later introduced a new tool that allows working with dollar-pegged stablecoins.
Thus, the recent purchase of Privy fits into Stripe's broader strategy of integrating digital assets into its ecosystem. This could significantly expand opportunities for both businesses and ordinary users interested in convenient and secure ways to interact with cryptocurrencies.
