Stripe to acquire crypto wallet provider Privy

According to Foresight News, payment company Stripe will acquire cryptocurrency wallet provider Privy, and the terms of the transaction have not been disclosed. Privy's transaction still needs to meet closing conditions, and the two companies expect the transaction to be completed in the next few weeks. Previously, Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion last October.

New York-based Privy was co-founded by Stern and Asta Li, who was a founding engineer at Aurora before founding Privy. Stern worked as a research scientist at Web3 company Protocol Labs. Founded in 2021, the startup has raised more than $40 million from investors such as Ribbit Capital, Definition and Coinbase Ventures.

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