Privy and Stripe: Bringing crypto to everyone
AI summary of the linked articleStripe is acquiring Privy, a wallet and onchain infrastructure company, and Privy will continue to operate as an independent product, according to co-founder Henri Stern's announcement dated June 11, 2025. Privy's API lets developers create wallets, sign transactions and integrate onchain systems, and the company says it powers over 75M accounts across 1,000+ developer teams. The announcement names Hyperliquid, Blackbird, Toku and Farcaster as examples of builders using its stack. The transaction is subject to customary closing conditions and is expected to close in the coming weeks. |
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4 comments  timSubmitter Same, I've been looking around the internet and I couldn't find anything either. But they stated that they have 75M users in crypto (probably with money in their accounts) [1]. So, I feel like it wasn't cheap? timSubmitter Btw, the vendor lock in into privy is massive. If you're a dapp builder you basically have to ask every single one of your users to export their private key and instead use a self custody wallet if you want to off board from privy. So yeah, as Mac said elsewhere, buying privy basically is for Stripe like buying a bunch of crypto apps which have integrated with it Heard different info about the price tag, ranging from $100M to $1B. It could be somewhere in that range. What's interesting is that Stripe basically bought distribution - Privy might have not found a sustainable business model and Stripe would still have many ways to monetize it - their on/offramps, stablecoin integration etc. |
