After the $1.1 billion Bridge deal, Stripe continues to acquire a crypto wallet infrastructure provider with 75 million accounts and a valuation of $230 million.
Stripe Inc. has reached an agreement to acquire Privy, a provider of crypto wallet infrastructure, according to information disclosed by Bloomberg reporter Emily Mason on Wednesday. Privy later confirmed the deal on platform X, marking an important step in the fintech giant's strategy to expand into the blockchain sector.
The financial details of the deal have not been disclosed; however, as of March 2025, Privy is valued at approximately $230 million according to Bloomberg data. According to Privy, after the deal is finalized, the company will continue to operate as an independent product, maintaining its startup nature while leveraging Stripe's financial and technical strength.
Founded in 2021 by co-founders Henri Stern (CEO) and Asta Li, Privy specializes in providing tools that help developers integrate cryptocurrency wallets into digital products simply and effectively. This New York-based startup has established a strong position with the goal of simplifying the crypto wallet experience and expanding user-friendliness.
Diverse customer ecosystem
Privy is currently supporting wallet infrastructure for over 75 million accounts, used by more than 1,000 development teams worldwide. Notable clients include OpenSea – the NFT marketplace that uses Privy's tools to allow users to purchase NFTs without needing to install extensions like MetaMask, Blackbird – a rewards point platform for restaurants, and Toku – a global payroll service provider.
Previously, Privy had raised $40 million from investors such as Ribbit Capital and Coinbase Ventures, demonstrating market confidence in the company's growth potential. This acquisition follows Stripe's earlier deal when they acquired the stablecoin infrastructure company Bridge for $1.1 billion, showing a significant ambition to build a comprehensive crypto payment ecosystem.
"With an integrated platform, connecting Privy's wallets with the cash flow capabilities of Stripe and Bridge, we are incredibly excited to enable a new generation of global financial services, native to the Internet," said Stripe CEO Patrick Collison in a statement to Bloomberg.
This deal is currently awaiting the completion of standard transaction conditions and is expected to close in the coming weeks.
