Stripe is acquiring the Privy cryptographic wallet infrastructure provider, as part of its broader plan to make blockchain tools easier to integrate into conventional digital products.
PRIVY creates integrated wallets for applications and websites, preventing users from having to register in external cryptographic wallets such as Metamask. The terms of the transaction, which was first informed by Bloomberg and confirmed by PRIVY, were not revealed.
The firm’s technology is used by Hyperliquid de Exchange Dentralized, the Blackbird restaurant loyalty firm and the Toku human resources platform to simplify the incorporation and reduce the user’s fall.
Privy revealed that since it was launched in 2021, it has grown to boost more than 75 million accounts in more than 1,000 equipment “allowing billions in transactions in wallets, applications and users.”
The company based in New York has raised more than $ 40 million in investors, including Paradigm, Coinbase and Sequoia Capital, according to Thetie data.
The acquisition occurs after Stripe bought Bridge, a Stablecoin infrastructure firm, for $ 1.1 billion. This agreement led to the launch of the accounts financed by Stablecoin, which allows companies to maintain and move funds abroad using tokens such as USDC.
PRIVY will continue to operate independently, but will be integrated into the set of Criptographic tools of stripe. The acquisition is expected to close in the coming weeks.
