Founded in 2021, Privy equips developers with tools to embed crypto wallets directly into their platforms, enabling users to purchase tokens without relying on third-party services like MetaMask or Coinbase Wallet. Notably, NFT marketplace OpenSea leverages Privy to allow buyers to transact natively—automatically generating wallets in the background for a seamless experience.

“When we started, wallets were powerful but only accessible to the highly technical. Developers had to push users off-platform, undermining the process and reducing conversion. That barrier stunted crypto’s growth,” explained Privy co-founder and CEO Henry Stern.

Other Privy clients include restaurant loyalty startup Blackbird and global employment firm Toku. As of March 2025, Privy was valued at $230M, with investors such as Ribbit Capital, Coinbase Ventures, and Definition. In November 2023, Privy secured $18M in Series A funding, followed by a $15M round led by Ribbit Capital in March 2025.

Stripe CEO Patrick Collison highlighted the strategic move:

“We’re excited to combine Privy’s capabilities with Stripe and Bridge, building the next generation of financial services for the internet—a unified global platform.”

Importantly, Privy and Bridge will continue to operate as independent products. Stripe’s acquisition strategy underscores its long-term ambition to become the leading infrastructure provider for companies aiming to support or launch crypto-native products, media outlets note.

Dragonfly General Partner Rob Hadick commented on social media:

“Once again—like after the Bridge deal—Stripe and all the stablecoin companies are clearly evolving into networks, while the entire payment model is being fundamentally disrupted.”

The Privy deal follows Stripe’s earlier acquisition of payment infrastructure provider Bridge for $1.1B in October 2024. The transaction is set to close following standard regulatory approvals.

Earlier this year, Stripe expanded its service suite to include payments in stablecoins USDC and USDB, signaling a broader move toward digital assets.