Payments giant Stripe is acquiring crypto wallet infrastructure startup Privy for an undisclosed fee.
The deal is part of Stripe's aggressive push back into crypto following a six year hiatus, building on its recent $1.1 billion takeover of stablecoin platform Bridge.
Founded around three years ago, Privy aims to make it easy for developers to build products on crypto rails. Through a single API, clients can spin up wallets rather than use external ones, sign transactions, and integrate any onchain system.
The firm now claims to power over 75 million accounts across more than 1000 developer teams, orchestrating billions in transactions. Among its clients are trading platform Hyperliquid and restaurant app Blackbird.
Like Bridge, the startup will operate as an independent product under Stripe.
Say founders Henri Stern and Asta Li: "Joining Stripe will accelerate our work to shape this future and provide powerful new capabilities to Stripe and Privy customers alike. Together, we can change how value moves through the Internet."