Stripe’s stablecoin strides

plus: bank stablecoins, CPI, market ennui, ME tension, tariff disappointment

“We must not wish for the disappearance of our troubles but for the grace to transform them.” – Simone Weil ||

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IN THIS NEWSLETTER:

• Stripe’s stablecoin strides

• More bank stablecoins

• Macro-Crypto Bits: CPI, market ennui, Middle East tension, tariff disappointment

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WHAT I’M WATCHING:

Stripe’s stablecoin strides

(hehehe I love alliteration)

Payments giant Stripe has made yet another significant crypto investment with the acquisition of wallet infrastructure provider Privy. This comes on the heels of the completion earlier this year of its purchase of stablecoin platform Bridge for $1.1 billion – it’s unclear how much the company paid for Privy, but the price tag is likely to be hefty as the three-year-old startup comes with over 75 million wallets created and more than 1,000 development team relationships.

Plus, the symbiosis has potential. Bridge makes it relatively easy for clients to issue and send stablecoins. Privy’s wallets make it easier to handle them. Put differently, Bridge is the stablecoin engine and the pipes. Privy’s wallets are the destination as well as the use case front-end.