Stripe Plans Acquisition of Crypto Wallet Provider Privy to Enhance Web3 Capabilities

Stripe is planning to acquire Privy, a crypto wallet infrastructure provider, in a move aimed at further expanding its Web3 capabilities. While the specific financial terms of the deal were not disclosed by either company, Privy confirmed the acquisition on June 11, 2025. This step is part of Stripe's broader strategy to optimize the integration of blockchain technology and tools into mainstream digital products.

Privy specializes in developing embedded wallets for applications and websites, which is designed to remove the need for users to sign up for external crypto wallets. The company's technology is currently leveraged by various organizations, including decentralized exchange Hyperliquid, restaurant loyalty firm Blackbird, and HR platform Toku, to enhance onboarding processes and minimize user drop-off. Since its launch in 2021, Privy has expanded its reach, now reportedly supporting over 75 million accounts across more than 1,000 teams, facilitating transactions across wallets, applications, and users.

According to information from Privy, the company is expected to continue operating independently but will be integrated into Stripe's suite of crypto tools. Joining Stripe is anticipated to enable Privy to accelerate its work on optimizing the crypto landscape and offer new capabilities to customers. Coindesk reports that the acquisition is expected to finalize in the coming weeks.

This marks Stripe's second acquisition of a crypto company in 2025, following its successful transaction with Bridge in February. Through the Bridge acquisition, Stripe aimed to scale the capabilities of digital dollars for businesses globally. This also signified Stripe's renewed focus on the digital asset sector after a six-year hiatus from offering crypto-related services. A few months after that, Stripe began developing a new USD stablecoin product for companies outside the U.S., the UK, and Europe, further aiming to expand the footprint of the USD for customers and businesses worldwide.