As payment giant Stripe continues to move deeper into crypto, Privy CEO and co-founder Henri Stern says the biggest barrier to adoption isn’t regulation or scaling, but the lack of compelling products. Embedded wallets, he argues, can bridge that gap by making digital assets usable inside everyday applications.
In an exclusive interview with The Defiant founder Camila Russo, Stern explained how Privy fits into Stripe’s broader crypto plans, which now include stablecoins, wallet tools, and its own blockchain efforts. Privy is a developer-focused embedded wallet platform, which Stripe acquired back in June.
Privy’s CEO also pushed back on what he sees as crypto’s habit of framing concepts like decentralization, trustlessness, and custody as binary outcomes rather than design trade-offs — an approach he says has often come at the expense of real security and user adoption.
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