Stripe Expands into Crypto Payments with Valora Acquisition

Payments giant Stripe has acquired the team from crypto payments startup Valora, marking a significant expansion into the cryptocurrency space. According to Valora founder Jackie Bona, this acquisition allows them to join Stripe to accelerate their mission of expanding economic opportunities through stablecoins and crypto rails.

Valora, which is a mobile-focused crypto payments app built on the CELO blockchain, will continue to operate, but its future development will now be managed by cLabs, the organization that spun it out.

This acquisition follows Stripe's recent initiatives, including the launch of the testnet for its stablecoin-focused blockchain, Tempo, developed in collaboration with crypto investment firm Paradigm. Valora brings valuable expertise in crypto wallet infrastructure and on-chain developer tools, which Stripe believes will enhance its ongoing efforts in the crypto sector.

Stripe's recent moves, including the acquisition of stablecoin infrastructure firm Bridge and wallet app Privy, reflect a growing interest in integrating crypto payments into mainstream financial systems.