At Sequoia, we aim to partner with outlier founders who see the future before it’s obvious. Henri and Asta were early to recognize the importance of seamless onchain experiences and helped define embedded wallets as a core category for anyone building on crypto rails. Today, we’re thrilled to share that Privy will be joining forces with Stripe.

Before Privy, Henri had done exceptional work at Protocol Labs and Asta was one of the first incredible engineers at Aurora. Beyond being stars at these Sequoia portfolio companies, Henri was friends with Shaun and Asta with Josephine. These deep relationships gave us strong conviction to be their very first believers, leading Privy’s seed round in 2021.

At the time, Henri and Asta had a bold vision for how to make crypto safer and more usable, even though account abstraction remained a concept and embedded wallets were just a theoretical idea. Over the last two years, crypto adoption in the real world has exploded, particularly in money movement. Wallets are key to unlocking even more growth. Privy’s mission of making it easy for developers to build experiences on crypto rails that are both frictionless and secure is now a pressing need—essential to giving more users worldwide access to the global financial system.

Joining Stripe will allow Privy to serve its existing customers with greater resources, and to empower more developers in changing how value moves through the internet. We have seen the benefits of that partnership with Stripe’s acquisition of Bridge earlier this year, and we believe this is just the beginning of a huge journey for Privy.

We couldn’t be more excited for Henri, Asta and the Privy team. As we wrote in our seed investment memo, Privy is addressing a sea change that will redefine global finance over the next 20 years. That opportunity hasn’t changed, but in joining Stripe, Privy can further catalyze it. Over the past 3 years, the Privy team has done an outstanding job, scaling to serve 75M+ accounts across 1,000+ developer teams. As part of Stripe, the potential ahead for Privy is boundless. We can’t wait to see how this team shapes the future of finance.