Latest news with #HenriStern
Yahoo
03-07-2025
- Business
- Yahoo
Stripe and TrueLayer to roll out Pay by Bank in France and Germany
Payments company Stripe, in collaboration with TrueLayer, has revealed plans to launch 'Pay by Bank' payment option in France and Germany. The move represents the extension of the partnership, which began in the UK. The feature is designed to simplify the checkout process for businesses operating in France and Germany. It enables consumers to bypass the traditional entry of card details and authorise payments directly from their bank accounts, often using biometric methods such as fingerprint or facial recognition for authentication. Utilising TrueLayer's open banking infrastructure, Stripe's 'Pay by Bank' connects directly to bank accounts across Europe. Ryanair, which partnered with TrueLayer in December last year, is also implementing this payment option for their customers. TrueLayer Germany country manager Sebastian Vetter said: 'Having seen the success of Stripe's TrueLayer integration in other markets, we are thrilled to bring this innovative payment solution to Germany and France. 'By leveraging TrueLayer's open banking infrastructure, we're enabling German and French businesses to accept payments directly from bank accounts, making transactions faster, safer, and more affordable.' Businesses can avoid card processing fees, which can lead to reduced transaction costs, the TrueLayer press release said. Payments are processed in real-time, and the method employs 'secure, bank-approved' authentication protocols. TrueLayer processes €2bn in 'Pay by Bank' transactions annually in France and €1.4bn in Germany. The integration will be available to all Stripe users in France and Germany in the near future. Last month, Stripe reached an agreement to acquire Privy, a crypto wallet startup based in New York. Privy, established in 2021 by Henri Stern and Asta Li, specialises in providing developers with an API to create secure wallets, sign transactions, and integrate blockchain systems. "Stripe and TrueLayer to roll out Pay by Bank in France and Germany " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
17-06-2025
- Business
- Yahoo
Stripe To Acquire Startup Privy After $1.1B Bridge Deal To Power Over 75M Crypto Wallets For OpenSea, Coinbase Ventures, And Web3 Giants
Privy, a New York–based cryptocurrency wallet infrastructure provider, announced on June 11 that Stripe would acquire it to support Stripe's Bitcoin and digital asset strategy. The deal follows Stripe's $1.1 billion acquisition of stablecoin platform Bridge in February. Privy specializes in embedding cryptocurrency wallets directly into websites and apps, removing the need for users to interact with third-party tools like MetaMask or Coinbase. Clients include OpenSea, Hyperliquid, Toku, and Farcaster, platforms that rely on frictionless wallet infrastructure to improve user onboarding and boost retention, Bitcoin Magazine reports. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can The company was founded in 2021 by Henri Stern, a former research scientist at Protocol Labs, and Asta Li, a founding engineer at Aurora. According to Bitcoin Magazine, Privy raised over $40 million from investors such as Ribbit Capital, Definition, and Coinbase Ventures and was last valued at $230 million in March. Privy will remain a standalone product, continuing to support more than 1,000 developer teams and over 75 million active accounts. The startup says that these wallets are tied to billions of dollars in transaction volume, with use cases spanning payments, payroll, trading, and social applications. Privy says it focused on solving one of the biggest user-experience problems in cryptocurrency by addressing how difficult wallets were for everyday users, especially when third-party setups added extra friction. Developers often had to send users off-site just to get started, leading to broken onboarding flows and high drop-off rates. This friction limited what could be built and scaled on blockchain rails. Trending: Invest where it hurts — and help millions heal:. Privy's core pitch is that cryptocurrency products should work with the same ease and clarity users expect from any modern app. By generating wallets behind the scenes, the platform gives developers the tools to build cryptocurrency-enabled services that mirror the experience of traditional fintech products. Privy will now integrate closely with Bridge and Stripe's core payments infrastructure, bringing together wallets, stablecoins, and fiat payments into one stack, Bitcoin Magazine says. Earlier this year, Stripe introduced stablecoin-funded merchant accounts powered by Circle's USDC and Bridge's USDB. 'Money has to reside somewhere, and Privy builds the world's best programmable vaults. Alongside our other stablecoin work, we're looking forward to enabling a new generation of global, internet-native financial services,' co-founder and CEO of Stripe Patrick Collison wrote on mentions Stripe's intensity, attention to detail, and long-term vision in the statement as key reasons for joining forces. From early discussions, both teams aligned on the belief that digital finance is evolving beyond legacy boundaries. As the lines between cryptocurrency and fiat systems blur, Privy saw an opportunity to scale its mission within a platform already known for reshaping global payments. The partnership is expected to accelerate product innovation and unlock new tools for developers and businesses building on digital rails. Privy says that integrating with Stripe would help advance how value moves across the internet, blending cryptocurrency-native infrastructure with modern financial services at a global scale. Read Next: Here's what Americans think you need to be considered wealthy. Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Stripe To Acquire Startup Privy After $1.1B Bridge Deal To Power Over 75M Crypto Wallets For OpenSea, Coinbase Ventures, And Web3 Giants originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
Stripe to buy crypto wallet provider Privy
Payments company Stripe has agreed to acquire New York-based crypto wallet startup Privy for an undisclosed amount. Privy, founded in 2021 by Henri Stern and Asta Li, provides an API for developers to securely create wallets, sign transactions, and integrate onchain systems. The platform currently supports over 75 million accounts across more than 1,000 developer teams, facilitating billions in transactions. Privy's technology is used across sectors including fintech and payments, decentralised finance (DeFi) and trading, consumer applications, gaming, and AI agents. The startup has raised just over $40m from investors such as Ribbit Capital, Definition, and Coinbase Ventures, according to Bloomberg. The transaction is subject to customary closing conditions and is expected to close in the coming weeks. Privy will continue to operate as an independent product following the acquisition. In a statement, Privy co-founder and CEO Henri Stern said: 'When we started, wallets were powerful but inaccessible for all but the most technical. Developers had to send users off-platform to get started, breaking flows and killing user conversion. That friction fundamentally constrained what could be built in crypto.' The acquisition follows Stripe's $1.1bn purchase of Bridge. Stripe co-founder and CEO Patrick Collison said: 'With a unified platform, connecting Privy's wallets to the money movement capabilities in Stripe and Bridge, we're enormously excited to enable a new generation of global, Internet-native financial services.' Earlier this year, Stripe launched stablecoin-funded accounts, enabling merchants to hold funds and pay vendors abroad using Circle Internet Group's USDC and Bridge-issued USDB. "Stripe to buy crypto wallet provider Privy " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
12-06-2025
- Business
- Finextra
Stripe buys crypto wallet startup Privy
Payments giant Stripe is acquiring crypto wallet infrastructure startup Privy for an undisclosed fee. 1 The deal is part of Stripe's aggressive push back into crypto following a six year hiatus, building on its recent $1.1 billion takeover of stablecoin platform Bridge. Founded around three years ago, Privy aims to make it easy for developers to build products on crypto rails. Through a single API, clients can spin up wallets rather than use external ones, sign transactions, and integrate any onchain system. The firm now claims to power over 75 million accounts across more than 1000 developer teams, orchestrating billions in transactions. Among its clients are trading platform Hyperliquid and restaurant app Blackbird. Like Bridge, the startup will operate as an independent product under Stripe. Say founders Henri Stern and Asta Li: "Joining Stripe will accelerate our work to shape this future and provide powerful new capabilities to Stripe and Privy customers alike. Together, we can change how value moves through the Internet."
Irish Examiner
11-06-2025
- Business
- Irish Examiner
Stripe to acquire crypto wallet provider Privy
Stripe has agreed to acquire crypto wallet provider Privy, building on the payment company's recent acquisition of stablecoin infrastructure firm Bridge. Terms of the transaction were not disclosed. Privy helps companies build crypto wallets into their user experiences. Non-fungible token marketplace OpenSea, for example, uses Privy to enable customers to purchase NFTs directly from its platform. Behind the scenes, Privy creates a wallet on behalf of the consumer which facilitates their purchase. Before the partnership, OpenSea customers needed to create an external wallet through a provider like MetaMask or Coinbase Wallet and link it to their account. The extra steps added friction for consumers and created a barrier to entry into the crypto universe. The wallets are necessary to hold NFTs and the cryptocurrencies required to buy them. Privy's other clients include restaurant loyalty start-up Blackbird and global employment firm Toku. 'When we started, wallets were powerful but inaccessible for all but the most technical,' Henri Stern, co-founder and chief executive officer of Privy, said in a statement. 'Developers had to send users off-platform to get started, breaking flows and killing user conversion. That friction fundamentally constrained what could be built in crypto.' New York-based Privy was founded in 2021 and has raised just over $40m from investors. Privy was last valued at $230m (€201.7m) in March of this year, according to data compiled by Pitchbook. 'With a unified platform, connecting Privy's wallets to the money movement capabilities in Stripe and Bridge, we're enormously excited to enable a new generation of global, internet-native financial services,' Patrick Collison, Stripe's co-founder and chief executive, said in a statement. The Privy news follows Stripe's $1.1bn (€1bn) acquisition of Bridge, a deal which accelerated an already growing wave of enthusiasm surrounding stablecoin. Earlier this year, Stripe announced it was introducing stablecoin-funded accounts designed to help merchants hold funds and pay vendors abroad using Circle Internet Group USDC and the USDB stablecoin issued by Bridge itself. Similarly to Bridge, Privy will continue to operate as an independent product. Stripe's acquisitions signal the company's interest in becoming a go-to vendor for clients interested in adding support for, or launching their own, crypto products at a time when everyone from large technology firms to traditional banks have expressed interest in exploring the technology. The Privy transaction is subject to closing conditions and the companies expect the deal to close in coming weeks. Bloomberg
