Stripe has purchased Privy, a developer of cryptocurrency wallet infrastructure, in a move towards digital assets. Privy will remain an independent product within the Stripe ecosystem, focusing on building for developers in the crypto space with enhanced resources. While the financial details were not disclosed, Privy's technology supports over 50 million crypto wallets globally. Stripe re-entered the crypto sphere last year, enabling merchants to accept stablecoin payments via USDC. The company has since expanded its stablecoin services to over 100 countries, allowing users to transact with US dollar-pegged stablecoins. Stripe's co-founder mentioned growing interest from banks in integrating stablecoins into their offerings. However, some traditional banks are wary of yield-bearing stablecoins, fearing potential disruption to their business model. Despite this, the trend towards stablecoins continues to gain traction in the financial sector. Read more AI-generated news on: https://app.chaingpt.org/news

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