Privy provides an API for developers to securely create wallets, sign transactions, and integrate onchain systems. 

June 13, 2025

Payments company Stripe has agreed to acquire New York-based crypto wallet startup Privy for an undisclosed amount. 

Privy, founded in 2021 by Henri Stern and Asta Li, provides an API for developers to securely create wallets, sign transactions, and integrate onchain systems. 

The platform currently supports over 75 million accounts across more than 1,000 developer teams, facilitating billions in transactions.  

Privy’s technology is used across sectors including fintech and payments, decentralised finance (DeFi) and trading, consumer applications, gaming, and AI agents. 

The startup has raised just over $40m from investors such as Ribbit Capital, Definition, and Coinbase Ventures, according to Bloomberg.  

The transaction is subject to customary closing conditions and is expected to close in the coming weeks. 

Privy will continue to operate as an independent product following the acquisition. 

In a statement, Privy co-founder and CEO Henri Stern said: “When we started, wallets were powerful but inaccessible for all but the most technical. Developers had to send users off-platform to get started, breaking flows and killing user conversion. That friction fundamentally constrained what could be built in crypto.” 

The acquisition follows Stripe’s $1.1bn purchase of Bridge.  

Stripe co-founder and CEO Patrick Collison said: “With a unified platform, connecting Privy’s wallets to the money movement capabilities in Stripe and Bridge, we’re enormously excited to enable a new generation of global, Internet-native financial services.” 

Earlier this year, Stripe launched stablecoin-funded accounts, enabling merchants to hold funds and pay vendors abroad using Circle Internet Group’s USDC and Bridge-issued USDB.