Privy

Wallet infrastructure sits at the foundation of every onchain product — and Privy has spent the years since its 2021 founding building that foundation for the teams that would rather ship features than manage key shards. The New York-based company, incorporated originally as Horkos Inc., distills the complexity of cryptographic key management, multi-chain wallet provisioning, and transaction authorization into a developer API that can be wired into a web app, a mobile client, or a backend service in a matter of hours.

What Privy Builds

The platform's core offering is the embedded wallet: a self-custodial wallet that lives inside a developer's application rather than in a separate browser extension or standalone app. End users sign up with an email address, a phone number, or a social login — familiar flows they already trust — and Privy provisions a wallet behind the scenes. The private keys are protected with hardware-isolated key management and never leave the user's custody in plaintext, while the developer's code never touches raw key material at all.

Beyond user-facing wallets, Privy provides:

• Server wallets (treasury and custodial wallets): programmatically controlled wallets for moving funds on behalf of a business, running payroll, handling settlement, or managing a protocol's treasury.
• Agent wallets: wallets with policy controls that allow autonomous AI agents to transact within developer-defined parameters — a capability becoming increasingly relevant as onchain AI applications proliferate.
• Policy engine: a rule layer that gates wallet actions, approves or rejects transactions based on configurable logic, and enforces spending limits or multi-party approval flows.

Developer tooling spans REST API, Node.js, Go, Ruby, React, React Native, Swift, Android, and Unity SDKs. Whitelabel customization lets companies present the wallet experience under their own brand, while built-in integrations with onramps, offramps, card-spend products, and yield providers extend what apps can offer users without additional plumbing.

Solana Support

Privy added native Solana support in July 2024, enabling embedded wallets on the Solana Virtual Machine alongside its existing EVM coverage. The release brought email- and social-login onboarding to SVM apps, self-custodial Solana wallet generation, customizable signature UIs, and cross-chain account linking that binds a user's Solana address and EVM addresses under a single Privy identity.

Projects on Solana that adopted Privy early include Tensor's Vector product, Hype, Lore, Baxus, and Prerich — teams building consumer-grade experiences where smooth onboarding matters as much as onchain mechanics.

More significantly, Privy was selected as the wallet infrastructure partner for the Solana Developer Platform (SDP), Solana Foundation's API-first platform aimed at enterprises and financial institutions building financial products on Solana. Through that integration, SDP customers get instant wallet provisioning, flexible custody options, transaction orchestration across payments and tokenized assets, and user experiences that abstract away blockchain friction entirely.

Scale and Customers

As of mid-2026, Privy's infrastructure supports more than 120 million accounts spanning 180-plus countries, processes over $15 billion in monthly volume, and maintains 99.99% historical uptime across 1,000-plus developer teams.

The customer roster spans multiple industry verticals. Ramp, the business spend platform, uses Privy to power stablecoin payout accounts for its enterprise clients. Deel, the global payroll and compliance company, relies on Privy for wallet provisioning in its payroll product serving workers in dozens of countries. Hyperliquid, Klarna, OpenSea, Blackbird (restaurant loyalty), and Robinhood's expanding blockchain ecosystem all appear in Privy's publicly cited case studies. African fintech Onafriq is among the newer additions, using the platform to modernize treasury operations and stablecoin rails across African markets.

Funding and the Stripe Acquisition

Privy raised $41.3 million across three funding rounds before its acquisition, backed by Sequoia Capital, Paradigm, Ribbit Capital, BlueYard, and Coinbase. The final independent round — $15 million led by Ribbit Capital and announced in March 2025 — was earmarked for expanding a 25-person team to 50 across product, engineering, legal, and go-to-market functions, with an emphasis on building out crypto onboarding rails.

Three months later, on June 11, 2025, Stripe announced it would acquire Privy for an undisclosed sum. The deal positioned Privy alongside Bridge — the stablecoin infrastructure firm Stripe had acquired for $1.1 billion in October 2024 — as part of a deliberate push to make Stripe the default financial operating system for the onchain economy. Privy continues to operate as an independent product under the Stripe umbrella, maintaining its existing developer relationships and public APIs.

Co-founder Henri Stern summarized the platform's proposition at the time of the deal: "Privy gives you one simple API, so you can securely spin up powerful wallets, sign transactions and integrate any on-chain system."

Current Status

Privy remains actively developed and marketed as a standalone product into 2026. Recent blog posts (July 2026) cover new features including universal deposit addresses, integrations with Robinhood Chain for tokenized equities trading, and continued partnership announcements. The combination of Stripe's payment scale, Bridge's stablecoin infrastructure, and Privy's wallet layer positions the combined entity as a comprehensive crypto-fiat stack for the next wave of financial applications — with Solana firmly represented as a first-class supported chain throughout.