Stripe, one of the world's leading payment service providers, on Wednesday announced that it will acquire Privy, a crypto wallet infrastructure startup, in a move to deepen its push into crypto and streamline digital value transfer.

What Happened: The deal is expected to close in the coming weeks.

Despite the acquisition, Privy will remain an independent product, continuing to serve its ecosystem while gaining from Stripe's speed, reliability, and resources.

Founded three years ago, Privy currently powers more than 75 million accounts across over 1,000 teams, enabling billions of dollars in crypto transaction volume.

The company has partnered with notable players like Hyperliquid, a decentralized trading platform, Farcaster, a decentralized social graph protocol, Blackbird, a crypto-native restaurant payments and Toku, a global crypto payroll provider.

Privy's infrastructure helps developers deliver intuitive and seamless crypto experiences to everyday users, making it a core bridge between Web2 usability and Web3 capability.

Also Read: Bitcoin Hovers Below $110,000: Is This The Calm Before The Storm?

Why It Matters: The acquisition reflects a shared vision between Stripe and Privy: making the movement of value across the internet as simple and seamless as information.

With Stripe’s backing, Privy is poised to deliver faster, more robust crypto integrations for both developers and end-users.

This deal could signal a larger trend of traditional fintech giants embracing crypto infrastructure, not just as an experimental vertical, but as a core part of their product roadmap.

Read Next:

• Public Company Bitcoin Holdings Are A ‘Megatrend’ Just Getting Started, Says Bitwise’s Matt Hougan

Image: Shutterstock