Stripe Expands Its Reach by Acquiring Web3 Wallet Developer Privy

Stripe has acquired the Web3 wallet infrastructure developer Privy. The details of the transaction have not been disclosed.

Stripe is recognized as one of the largest and most highly valued fintech companies globally. Last year, it processed over $1 trillion in payments.

Privy boasts a user base of over 75 million. Launched three years ago, the platform provides seamless wallet integration solutions through account abstraction technology, allowing connections to various platforms and ecosystems.

Among Privy’s clients are notable names such as Hyperliquid, Blackbird, OpenSea, Toku, and Farcaster.

In March, Privy raised $15 million in a funding round led by Ribbit Capital, with participation from Sequoia Capital, Paradigm, BlueYard, and Coinbase, bringing its total investment to over $40 million.

It’s worth noting that in February, Stripe acquired the platform Bridge for $1.1 billion. Just three months later, the payment giant introduced a new feature for USD-pegged stablecoins.