Latest news with #AstaLi
Yahoo
2 days ago
- Business
- Yahoo
Stripe to buy crypto wallet provider Privy
Payments company Stripe has agreed to acquire New York-based crypto wallet startup Privy for an undisclosed amount. Privy, founded in 2021 by Henri Stern and Asta Li, provides an API for developers to securely create wallets, sign transactions, and integrate onchain systems. The platform currently supports over 75 million accounts across more than 1,000 developer teams, facilitating billions in transactions. Privy's technology is used across sectors including fintech and payments, decentralised finance (DeFi) and trading, consumer applications, gaming, and AI agents. The startup has raised just over $40m from investors such as Ribbit Capital, Definition, and Coinbase Ventures, according to Bloomberg. The transaction is subject to customary closing conditions and is expected to close in the coming weeks. Privy will continue to operate as an independent product following the acquisition. In a statement, Privy co-founder and CEO Henri Stern said: 'When we started, wallets were powerful but inaccessible for all but the most technical. Developers had to send users off-platform to get started, breaking flows and killing user conversion. That friction fundamentally constrained what could be built in crypto.' The acquisition follows Stripe's $1.1bn purchase of Bridge. Stripe co-founder and CEO Patrick Collison said: 'With a unified platform, connecting Privy's wallets to the money movement capabilities in Stripe and Bridge, we're enormously excited to enable a new generation of global, Internet-native financial services.' Earlier this year, Stripe launched stablecoin-funded accounts, enabling merchants to hold funds and pay vendors abroad using Circle Internet Group's USDC and Bridge-issued USDB. "Stripe to buy crypto wallet provider Privy " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
3 days ago
- Business
- Finextra
Stripe buys crypto wallet startup Privy
Payments giant Stripe is acquiring crypto wallet infrastructure startup Privy for an undisclosed fee. 1 The deal is part of Stripe's aggressive push back into crypto following a six year hiatus, building on its recent $1.1 billion takeover of stablecoin platform Bridge. Founded around three years ago, Privy aims to make it easy for developers to build products on crypto rails. Through a single API, clients can spin up wallets rather than use external ones, sign transactions, and integrate any onchain system. The firm now claims to power over 75 million accounts across more than 1000 developer teams, orchestrating billions in transactions. Among its clients are trading platform Hyperliquid and restaurant app Blackbird. Like Bridge, the startup will operate as an independent product under Stripe. Say founders Henri Stern and Asta Li: "Joining Stripe will accelerate our work to shape this future and provide powerful new capabilities to Stripe and Privy customers alike. Together, we can change how value moves through the Internet."
