PANews reported on June 11 that Privy officially announced that payment giant Stripe has reached an acquisition agreement, and Privy will continue to operate as an independent product. Privy focuses on helping developers seamlessly create crypto wallets for users through simple APIs, and currently supports more than 75 million accounts and 1,000+ development teams. This time, joining Stripe will combine its capital flow capabilities to accelerate the construction of Web3 native financial services. The transaction is expected to be completed within a few weeks.

As reported in February, Stripe completed the $1.1 billion acquisition of Bridge and prepared to vigorously promote stablecoins .