Stripe has acquired Privy, a developer-focused cryptocurrency wallet infrastructure provider, for an undisclosed amount. Founded in 2021 as Horkos, Privy offers self-custody wallet technology that integrates with common login flows like email or SMS, aiming to simplify the digital asset experience. The company’s wallets are automatically created during user sign-up and use advanced security methods, such as Shamir’s Secret Sharing and secure enclaves, to protect private keys. “Privy gives you one simple API, so you can securely spin up powerful wallets, sign transactions and integrate any on-chain system,” said Co-Founder Henri Stern. Privy currently supports more than 75 million accounts across 1,000+ developer teams, handling billions in transactions.
Privy’s tools support wallet creation, transaction signing, key management, and on-chain event handling, with features including transaction limits, allowlists, and multifactor authentication. The firm’s infrastructure has been used by NFT platforms like OpenSea to facilitate direct purchases. Backed by investors such as Sequoia Capital and Coinbase Global, Privy had raised $41.3 million before the acquisition. The move follows Stripe’s February purchase of Bridge Ventures. “We built Privy to abstract away that complexity — making digital assets feel like the rest of the Internet: simple, intuitive and instant,” Stern said in a blog post. The deal positions Stripe to better serve developers building Web3 applications, blending secure crypto tools with Stripe’s streamlined infrastructure.
