Payment company Stripe will acquire cryptocurrency wallet provider Privy

ChainCatcher news, according to Bloomberg, American payment giant Stripe announced it will acquire crypto wallet infrastructure provider Privy, with the specific transaction amount undisclosed.

This is another significant move following its acquisition of stablecoin infrastructure company Bridge. Privy's embeddable wallet creation service has been adopted by platforms like OpenSea, simplifying the NFT purchasing process.

Stripe's CEO stated that integrating Privy with Bridge is expected to drive the development of global crypto-native financial services. The transaction is expected to be completed within weeks.