Stripe Buys Privy to Expand Crypto Wallet Tech

- Stripe to acquire Privy to bolster crypto offerings. - Privy to operate independently post-acquisition. On June 11, 2025, The Block reported that major payments firm Stripe has agreed to purchase the crypto wallet company Privy, although the companies did not disclose the deal's terms. This acquisition is part of Stripe's broader strategy to enhance its presence in the digital asset space and follows its previous purchase of the stablecoin platform Bridge. Privy's wallet technology focuses on simplifying the user experience and facilitates integration with various crypto ecosystems. Through this acquisition, Stripe aims to support and accelerate Privy's technology while also allowing the company to continue operating as an independent product. On June 11, other notable outlets, including Cointelegraph, Blockworks, Coindoo, and Binance, also reported on the acquisition. On the same day, Sequoia Capital, an early investor in Privy, published a piece about the acquisition. In this piece, Sequoia Capital highlighted Privy's expected continuous independence and accelerated growth. Privy also confirmed the acquisition on June 11, stating that with Stripe's backing, it will now move faster and ship more. According to CoinMarketCap on June 11, Ethereum (ETH) is trading at $2,732 as of 12:00 UTC, and its 24-hour trading volume has increased by 1.8%.