Stripe’s Latest Acquisition: A Crypto Wallet Adventure Awaits! 🚀💰

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In a move that could only be described as a financial game of Monopoly, Stripe, the heavyweight champion of the fintech world, has decided to add another property to its portfolio—this time, it’s the elusive Privy, a company that builds the very infrastructure for crypto wallets. Because why not? Who doesn’t want to own a piece of the digital pie?

Stripe’s Crypto Grab Continues—Privy Joins the Billion-Dollar Blockchain Bet

Stripe Inc. has struck a deal to acquire Privy, the crypto wallet infrastructure provider, as first revealed by Bloomberg’s Emily Mason, who probably had a crystal ball or just a really good source. Privy later confirmed the acquisition in a post on X, which is what we call Twitter now, because branding is everything.

Now, before you start imagining dollar signs flying around like confetti, no financial details were shared. According to Privy, they will remain an independent product once the deal is complete—because who doesn’t love a bit of independence in a world of corporate overlords?

Clients such as Opensea are already using 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. Yes, even your paycheck might be getting a crypto makeover!

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—because if there’s one thing we need, it’s more simplicity in the complex world of digital currencies. Headquartered in New York, the company has raised a whopping $40 million from investors such as Ribbit Capital and Coinbase Ventures. That’s a lot of zeroes!

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. Yes, billion with a ‘b’—the kind of money that makes you wonder if you should have studied finance instead of literature.

“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. And who wouldn’t be excited? It’s like Christmas for fintech enthusiasts!

The acquisition is pending standard closing conditions and is expected to wrap up in the next few weeks. So, keep your eyes peeled, folks—this financial rollercoaster is just getting started!

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2025-06-11 20:27