blockworks.co
Stripe is acquiring Privy, a crypto wallet provider.
Privy says that it will remain an “independent product” but will operate under Stripe’s umbrella. It will “move faster, ship more, and serve you even better, so you can stay focused on your users.”
The amount was not immediately disclosed. Stripe didn’t immediately return a request for comment.
Bloomberg first reported the news.
“From our earliest conversations with Stripe, they impressed us with their craft, ambition, and willingness to imagine new worlds,” Privy said in a post. “Like us, they believe in bringing crypto and fiat closer together to change how value moves through the Internet.”
The acquisition is just the latest example of Stripe doubling down on crypto.
It bought stablecoin firm Bridge for $1.1 billion in one of the largest crypto acquisitions in history last year. It also reintegrated crypto payments in the US last fall.
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