Stripe acquires crypto wallet startup Privy to strengthen digital asset offerings

Stripe has acquired crypto wallet infrastructure company Privy, which provides APIs to help businesses easily build crypto wallets and integrate on-chain capabilities; Privy currently powers over 75 million accounts. The deal comes as Stripe deepens its digital asset strategy following its recent global expansion of money movement tools and the addition of new payment methods like India’s UPI and Brazil’s Pix. Stripe co-founder John Collison said stablecoins and AI are key growth areas for the company, and that Stripe is in talks with banks on integrating stablecoins into financial products.