Lightspeed Privy CEO: Why Did Stripe Acquire Privy? | Henri Stern
Oct 3, 2025
Henri Stern, Co-founder and CEO of Privy, sheds light on the recent acquisition of his company by Stripe. He discusses the evolution of Privy and its strategic fit within Stripe's crypto ambitions. Henri explores the potential of embedded wallets and stablecoins as executable programs, emphasizing their role in enhancing user experiences. He also addresses the pathway for broader merchant adoption, the importance of a multi-chain future, and how competition from stablecoins will challenge traditional payment networks.
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Privy As Programmable Account System
- Privy is more than consumer sign-ins; it serves neobanks, payments firms, DeFi protocols and consumer apps.
- Henri argues Privy is an account system that makes programmable money accessible to mainstream users.
Stablecoins As New Money Rails
- Stripe views stablecoins as fast, cheap, global rails that extend their money-movement core.
- Henri says Privy helps by providing the account layer where programmable assets live.
Money Is Code, But Ecosystem Wins
- Stablecoins are literally programs (smart contracts) that mint, burn and control assets.
- Henri warns that ecosystem, usability and infrastructure beyond the contract determine adoption, not code alone.