After $1.1 Bridge Acquisition, Stripe Now Buys Privy

After sealing a $1 billion deal to acquire stablecoin firm Bridge, payment tech company Stripe has now purchased crypto wallet provider Privy, signaling broader ambitions in digital asset infrastructure.

Good to know

• Stripe has acquired both Bridge and Privy within months.
• Privy will remain an independent product under Stripe.
• Banks are showing growing interest in working with stablecoins.

Crypto wallet provider Privy confirmed on social media that it is now part of Stripe. The post stated the wallet product will stay independent but benefit from Stripe’s resources to expand more rapidly. “We couldn’t be more excited. Privy will continue as an independent product – but now we’ll move faster, ship more, and serve you even better, so you can stay focused on your users,” Privy posted.

Earlier this year, Stripe closed its deal with Bridge, the issuer behind the stablecoin USDB. That token is backed by cash and money market assets held by BlackRock, designed as a programmable and dollar-pegged asset for digital transactions. Bridge co-founder Zach Abrams said after the acquisition, “Stablecoins aren’t the future—they’re already transforming how people move money today.”

Following its crypto-focused acquisitions, Stripe has reportedly been speaking with banks about stablecoin integration. According to Stripe president John Collison, these conversations suggest banks are taking stablecoins seriously. “This is not something that banks are just kind of brushing away or treating as a fad,” he noted. “Banks are very interested in how they should be integrated with stablecoins into their product offerings as well.”

The recent moves suggest Stripe is laying the groundwork for a broader crypto strategy. By acquiring Bridge for digital dollar infrastructure and Privy for wallet technology, the company appears set to offer end-to-end crypto services for businesses looking to modernize payments.

In November last year, the company revealed it had acquired Triangle, a Web3 wallet infrastructure provider. Although the terms of the deal were not disclosed, the acquisition adds advanced wallet capabilities to Bridge’s platform.