Stripe Eyes Expansion in Web3 with Acquisition of Privy

US-based payment processing giant Stripe is making moves to enhance its presence in the blockchain and cryptocurrency space. In a recent development, the company is reportedly set to acquire Privy, a leading provider of crypto wallet infrastructure solutions. While neither party has disclosed financial details, Privy confirmed the acquisition on Twitter on June 11, 2025.

This strategic move aligns with Stripe’s broader strategy to integrate blockchain technology more seamlessly into everyday digital products and services. Privy specializes in developing embedded wallets for applications and websites, streamlining user experiences without the need for them to sign up for external crypto wallets. Companies like Hyperliquid, Blackbird, and Toku have already adopted Privy’s technology, benefiting from improved onboarding processes and reduced user drop-off rates since 2021.

According to reports, once integrated into Stripe’s suite of tools, Privy will continue to operate independently but will see accelerated work on optimizing the crypto landscape and offering new capabilities to customers. The acquisition is expected to be finalized in the near future.

Stripe’s Crypto Journey Continues

This isn’t the first time Stripe has engaged with the crypto industry this year. In February, the company completed a deal with Bridge, another crypto-related firm, aiming to expand digital dollar capabilities globally. Following this transaction, Stripe initiated development on a new USD stablecoin product for businesses outside the US, UK, and Europe, further expanding its global footprint in the digital asset sector.

The acquisition of Privy marks a continued commitment by Stripe to deepen its engagement with blockchain technology and enhance Web3 services for a broader range of customers.