Stripe is deepening its push into crypto, bringing the team behind the Valora wallet into the company as it builds out a broader suite of stablecoin services. The move, announced Wednesday by Valora founder Jackie Bona, marks another step in Stripe’s plan to offer more tools for issuing, managing, and using stablecoins across its payments ecosystem.
Bona said the Valora team is joining Stripe to help “expand global access to financial systems.” She didn’t share how many employees are making the transition, and Stripe hasn’t disclosed terms of the deal.
Valora, launched in 2021, built a mobile-first, self-custody wallet designed around stablecoin payments on the Celo blockchain. While the team is moving to Stripe, the underlying technology isn’t part of the acquisition. Instead, the Valora app will return to cLabs—Celo’s core development group—which will guide its future updates and operations.
Stripe’s growing stablecoin strategy
Stripe has been steadily increasing its involvement in crypto after several years of caution. In late 2024, it acquired Bridge for $1.1 million, giving the company infrastructure to support the full lifecycle of stablecoins—from issuance to custody.
Since then, Stripe has launched Open Issuance, a platform that helps companies create their own stablecoins using Bridge’s framework. It has also partnered in the development of Tempo, a payments-focused Layer 1 blockchain. The company is pursuing a national bank charter in the U.S. to expand its regulatory footing.
This isn’t Stripe’s first move into crypto products. It also acquired wallet firm Privy earlier this year. In their annual letter, founders Patrick and John Collison described stablecoins as a clear step forward in the “basic usability of money,” noting that it took years for the technology to reach a practical stage. Stripe previously tested bitcoin payments before discontinuing the feature in 2018.
Bona said the alignment with Stripe was natural, citing shared values and a common belief that stablecoins can broaden access to economic participation worldwide.
Valora’s journey
Valora originally spun out from cLabs more than four years ago, backed by a $20 million investment led by Andreessen Horowitz and Polychain Capital. The project also drew support from well-known names through a16z’s Cultural Leadership Fund, including NBA stars Carmelo Anthony and Kevin Durant, YouTuber Casey Neistat, and artists Nas and Sean “Diddy” Combs.
The wallet first arrived in beta in late 2020 and was formally released in early 2021. Valora focused on making crypto transfers feel as simple as sending a text message and worked with partners like M-Pesa to reach users in African markets. It also collaborated with Tether to promote stablecoin adoption globally.
Bona, who previously led product marketing efforts at Google, Twitter, and Spotify, positioned Valora as a friendly entry point for users handling digital money.
