Stripe has officially acquired Privy, a New York-based company that specializes in integrating crypto wallets into business user experiences.

As of May 7, 2025, Stripe's stablecoin initiative has significantly expanded, offering stablecoin accounts to clients in over 100 countries.

Stripe re-entered the crypto market in October 2024 by enabling merchants to accept stablecoin payments using USDC.

Privy confirmed the acquisition on June 11, 2025, and will continue to operate independently within the Stripe ecosystem.

Co-founder John Collison has highlighted the transformative potential of stablecoins and AI in reshaping online commerce.

While the financial terms of the acquisition have not been disclosed, the deal marks a significant step for Stripe in the digital asset space.

Collison also noted that banks are increasingly interested in integrating stablecoins into their services, indicating a shift in the banking sector's approach.

This acquisition aligns with the growing trend of traditional payment processors venturing into the cryptocurrency sector.

Stripe emphasizes that stablecoins provide a faster and cheaper method for international transactions, making them appealing to major companies.

The deal follows Stripe's recent expansion of its money movement capabilities, which allows U.K. businesses to manage multiple currencies and facilitate payments in 50 countries.

Despite these advancements, Stripe acknowledges the challenge of enabling stablecoin spending at businesses that only accept fiat currencies.

Privy, founded in 2021, has raised over $40 million from notable investors and supports over 75 million accounts, facilitating billions in transactions.