Payment company Stripe acquires cryptocurrency wallet provider Privy

BlockBeats reported on June 11 that payment company Stripe has agreed to acquire crypto wallet provider Privy, building on its recent acquisition of stablecoin infrastructure company Bridge. The terms of the deal have not been disclosed. Privy helps companies integrate crypto wallets into their user experiences. It primarily offers wallet integration services for enterprises and has provided technical support for platforms like OpenSea.

Previously, Stripe completed an $1.1 billion acquisition of the stablecoin infrastructure company Bridge. By integrating Privy with Bridge, Stripe is accelerating its commitment to stablecoin and crypto payment infrastructures. Privy will continue to operate as an independent product, and the transaction is expected to close within a few weeks. This March, Privy raised $15 million in funding led by Ribbit Capital.