Stripe has appointed Henri Stern, co-founder and CEO of Privy, to lead its global crypto and stablecoin strategy. Stern officially assumed the new role on October 5, 2026, while maintaining his position as CEO of Privy, the embedded wallet platform Stripe acquired in 2025.
The acquisition of Privy, which supports over 160 million accounts and processes billions in monthly volume for more than 2,000 developers, serves as a core component of Stripe's digital asset infrastructure. This follows the acquisition of Bridge, a stablecoin orchestration platform, for $1.1 billion.
Stripe is integrating these technologies to build a unified developer ecosystem that includes wallets, card issuing, and asset orchestration. A primary objective for Stern is the expansion of Stripe’s stablecoin-linked card programs to more than 100 countries by the end of 2026.
Current partners utilizing Stripe’s stablecoin card infrastructure include Kraken, Ramp, and Morse. The company reports a baseline of approximately $1.2 billion in recent monthly card spending, aiming to leverage its existing merchant network to scale stablecoin adoption globally.
Stern advocates for an open stack approach, intending to prevent developer lock-in within the Stripe ecosystem. Despite the strategic consolidation, the company faces significant execution risks related to navigating diverse international regulatory requirements for payments and digital assets.
