Payments Giant Stripe to Acquire Crypto Wallet Tech Firm Privy

Crypto Wallet Infrastructure Company Privy agreed to have been paid for by Giant Stripe, two companies announced on Wednesday.

The acquisition, which is expected to close in the coming weeks, will bring a secret under the strip umbrella, but will allow him to continue working as an independent product. The terms of the agreement were not published.

“Money has to stay somewhere, and the illusion builds the world’s best programming vaults,” Executive Director of Stripe Patrick Collison Posted on X (earlier Twitter). “In addition to our other stabiblotic works, we look forward to allowing a new generation of global, internet financial services.”

Active crypto users who participate in consumer applications have probably already communicated with a secret without even knowing it.

Best known for their built -in wallet technology, the illusion allows developers to build simpler boarding experiences, such as allowing users to create a crypto banknotes without the complexity of memory or recording seed phrases.

In addition, built -in secrets for secrets allow users to hold property or take actions directly within the supported crypto applications, instead of having to connect a third party wallet like a metamic to perform transactions.

In just three years, the secrets of technologies have become widely accepted throughout the industry, supporting more than 75 million accounts and 1,000 development programmers, said the company – including large crypto applications such as Pump.fun, Hyperliquid, OpenSEA and more.

Joining Stripe, she plans to accelerate the pace even more.

“Today, digital ownership and financial systems that manage the modern world are cut as never before,” The company wrote Wednesday. “Like us, Stripe believes in the power of bringing cryptocurrency and fiat, marrying these systems so deep that the difference becomes almost meaningless.”

“Joining Stripe will accelerate our work to shape this future and provide strong new opportunities for providing and secret customers,” he continued. “Together we can change how the value is moving online.”

Acquisition is another part of Strip -the further connection with cryptocurrencies, having announced plans for stabiblecoin financial accounts In May.

In October a payment company acquired platform to pay stabilecoin Bridge for $ 1.1 billion after Integrating the Lavin Slavic-1 Blockchain earlier in the year.

Stipe was among the first wages that accepted Bitcoin Back in 2014but he closed his service in 2018 before returning the focus on cryptocurrencies last year.

A secret representative did not immediately respond Decipherptic Request for comment. Stripe’s representative pointed to Collison’s X thread as an official comment from the company.

Edited Andrew Hayward