Tech company Stripe has announced the acquisition of Privy, a crypto wallet infrastructure startup, marking a significant step in its expansion into digital assets. Terms of the deal were not disclosed, according to Bloomberg, and it follows Stripe’s recent $1.1 billion acquisition of stablecoin platform Bridge. Founded in 2021, Privy simplifies the integration of crypto wallets into platforms for businesses, enabling them to offer seamless crypto experiences for their customers. Companies like OpenSea, Blackbird, and Toku have already adopted Privy’s solution. Privy CEO Henri Stern highlights the need to remove friction points faced by new crypto users. “Wallets were powerful but inaccessible for all but the most technical,” he stated, emphasizing that developers previously required users to leave their platforms to use wallets. Stripe will continue Privy’s operations independently and aims to strengthen its position in the crypto industry through this acquisition. The move also supports Stripe’s stablecoin initiatives, such as USDC- and USDB-funded merchant accounts.