EddieJayonCrypto
11 Jun 25
Payments platform Stripe has acquired crypto wallet provider Privy, which will continue operating independently but with enhanced development and support. This follows Stripe's recent $1 billion acquisition of stablecoin firm Bridge, known for the USDB stablecoin backed by cash and money market fund...
Stripe has acquired crypto wallet provider Privy to bolster its payment infrastructure for businesses. Privy will continue to operate independently but with enhanced development and support under Stripe's ownership.
This acquisition follows Stripe’s recent $1 billion purchase of stablecoin issuer Bridge, the company behind USDB, a programmable dollar-pegged crypto asset backed by cash and money market funds from BlackRock. Bridge’s co-founder Zach Abrams highlighted that this partnership aims to scale digital dollars globally, emphasizing that stablecoins are already transforming money movement today.
Stripe is also engaging in discussions with banks about integrating stablecoins into their financial products. Stripe co-founder and president John Collison noted strong interest from banks, who are not dismissing stablecoins as a fad but are keen on exploring their incorporation into traditional banking offerings.
Through these strategic acquisitions and collaborations, Stripe is positioning itself at the forefront of merging traditional finance with digital assets, potentially reshaping payment ecosystems and expanding the usage of dollar-pegged stablecoins.