Written by: Thejaswini M A
Compilation: Block unicorn
Preface
Yes, stablecoins are hot right now. Circle's stock is soaring. The (GENIUS Act) is moving forward in Congress. But none of that is the point.
The real change is hidden in plain sight. Stripe has just acquired a crypto wallet company, Shopify is making stablecoin payments the default option, and Amazon and Walmart are reportedly building their own stablecoins.
When the world's largest retailers start bypassing traditional banks to save billions of dollars in fees, it's more than just crypto adoption.
This means the entire payment system is being disrupted by companies we already trust. There are four clear signs that cryptocurrency is being commercialized.
1/ The Importance of Privy Is Greater Than You Think
Stripe's acquisition of Privy is more than just another ordinary deal in the crypto space.
Why? Because they bought the last piece of the digital payment empire.
Earlier this year: Stripe acquired Bridge (stablecoin infrastructure) for $1.1 billion.
Bridge is the infrastructure that makes stablecoins work for businesses like ordinary currency. Their API seamlessly converts between USD and stablecoins, so businesses can make instant global payments without dealing with crypto wallets or complex blockchain technology. Bridge is a bridge between traditional banking and the new digital dollar economy.
This week: Stripe acquired Privy (crypto wallet integration).
Privy can connect wallets to interfaces users are familiar with (such as email addresses) without users having to touch complex private keys or mnemonic phrases. For Stripe's massive user base, this means accessing crypto payments without having to learn about crypto.
What do I see? A complete crypto payment system from wallet to settlement.
This acquisition demonstrates Stripe's commitment to making stablecoin payments as easy as traditional card processing. Companies already using Stripe (which processes over $1 trillion annually) can now offer crypto payments without building new infrastructure or requiring customers to download wallet apps.
This is important because Stripe provides payment processing for millions of businesses worldwide.
Stripe's reach is staggering: according to Chargeflow, 1.4 million active websites and 90% of adults have used Stripe to transact. On Black Friday alone, the company processed over 465 million transactions.
