On June 11, 2025, Stripe acquired Privy, a cryptocurrency wallet infrastructure developer, marking a significant expansion into the digital asset space. The acquisition, for an undisclosed amount, follows Stripe's re-entry into the crypto market in 2024. (Source: Cointelegraph, June 11, 2025)
Privy, which will continue to operate independently within the Stripe ecosystem, supports over 50 million crypto wallets globally. This move underscores Stripe's growing focus on digital assets and stablecoin payments. (Source: Cointelegraph, June 11, 2025)
Stripe's return to crypto began in October last year, enabling merchants to accept stablecoin payments through USDC. As of June 10, Stripe users in over 100 countries can send and receive US dollar-pegged stablecoins. (Source: Cointelegraph, June 11, 2025)
Stripe co-founder John Collison noted growing interest in stablecoins from global financial institutions. However, some experts, like NYU professor Austin Campbell, suggest that the US banking lobby may be concerned about the potential impact of yield-bearing stablecoins on their business model. (Source: Cointelegraph, June 11, 2025)