NEW YORK, NY – Payments giant Stripe has acquired Privy, a leading Web3 identity and wallet infrastructure provider, in a deal reportedly valued by $230 million. The acquisition, announced on June 11, 2025, underscores Stripe's deepening commitment to integrating cryptocurrency and traditional finance, aiming to bridge the gap between fiat and digital assets. Privy, co-founded by Henri Stern and Asta Li, will continue to operate independently under the Stripe umbrella.
Privy specializes in simplifying user onboarding and data management for Web3 applications, offering embedded wallets and secure APIs that abstract away the complexities of blockchain interactions. The company has rapidly scaled, now powering over 75 million accounts across more than 1,000 developer teams, facilitating billions in transaction volume. This strategic move follows Stripe's earlier acquisition of stablecoin platform Bridge, signaling a robust expansion into the digital asset ecosystem.
The success of Privy is significantly attributed to its exceptional team, as highlighted by prominent Web3 observer Jake Kerr. In a recent tweet, Kerr stated, > "Set an (almost unrealistic) bar + hire people who actually meet it. The best founders are the best operators you’ve ever met. The horsepower, speed, skill, and range is astonishing." He further emphasized, > "So they only hire the best who can keep up with them."
Kerr specifically lauded Henri Stern and Asta Li for assembling > "a team of super product-centric builders that moves with both pace and quality - essentially all future founders." This focus on high-caliber talent and operational excellence has positioned Privy as a standout performer in the competitive Web3 infrastructure space. Kerr concluded that this rigorous hiring philosophy is precisely > "why their team is outperforming others in the space."
Stripe's acquisition of Privy is poised to accelerate the adoption of Web3 technologies by providing developers with more seamless and secure tools for user authentication and data management. Both companies share a vision of a future where the distinction between crypto and fiat becomes "meaningless," as stated by Privy co-founders Henri Stern and Asta Li, indicating a unified financial landscape.