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After snapping up Bridge, the multinational financial services and SaaS heavyweight Stripe has now set its sights on Privy, a company that builds infrastructure for crypto wallets.
Stripe’s Crypto Grab Continues—Privy Joins the Billion-Dollar Blockchain Bet
Stripe Inc. reached a deal to acquire Privy, the crypto wallet infrastructure provider, as first revealed Wednesday by Bloomberg’s Emily Mason. Privy later confirmed the acquisition in a post on X.
No financial details were shared. According to Privy, the company will remain an independent product once the deal is complete. Founded in 2021, the startup streamlines how developers integrate crypto wallets into digital products.
Clients such as Opensea use Privy’s tools to let users purchase non-fungible tokens (NFTs) directly—no need for browser extensions like Metamask. Other users include Blackbird, a restaurant rewards platform, and global payroll provider Toku.
Privy currently powers wallet services for over 75 million accounts across more than 1,000 teams. Co-founders CEO Henri Stern and Asta Li launched Privy to make crypto wallets simpler and easier to use. Headquartered in New York, the company has raised $40 million from investors such as Ribbit Capital and Coinbase Ventures.
As of March, Bloomberg’s Mason noted that Privy carried a $230 million valuation. This move follows Stripe’s previous crypto play: acquiring the stablecoin infrastructure company Bridge for $1.1 billion.
“With a unified platform, connecting Privy’s wallets to the money movement capabilities in Stripe and Bridge, we’re enormously excited to enable a new generation of global, Internet-native financial services,” Stripe CEO Patrick Collison remarked in a statement to Bloomberg.
The acquisition is pending standard closing conditions and is expected to wrap up in the next few weeks.