Stripe Acquires Valora Team to Boost Crypto Plans

Source: Coinomedia Original Title: Stripe Acquires Valora Team to Boost Crypto Plans Original Link: https://coinomedia.com/stripe-valora-acquisition/ Global payment giant Stripe has acquired the team behind Valora, a mobile-first crypto wallet, in a move that underscores Stripe’s growing ambitions in the blockchain space. This acquisition marks a significant step in Stripe’s efforts to build crypto-powered payment infrastructure.

The Valora team, known for its expertise in self-custody wallet solutions and blockchain development, will now join Stripe’s broader crypto division. However, it’s important to note that the Valora wallet product itself will continue to operate independently under cLabs, the core developer team of the Celo blockchain.

What This Means for Stripe and Crypto Adoption

With the Valora team now under its wing, Stripe is signaling a clear commitment to integrating more blockchain-native talent and solutions into its ecosystem. The move could help Stripe accelerate development of on-chain payments, stablecoin integrations, and cross-border remittance services using blockchain technology.

Stripe has already dabbled in crypto payments in the past, offering USDC payouts on select platforms and supporting crypto-related businesses. The addition of the Valora team adds engineering firepower and domain expertise to take its blockchain ambitions to the next level.

Valora Wallet Continues as Part of cLabs

While the team moves to Stripe, the Valora self-custody wallet will remain with cLabs, ensuring continuity for its users. Valora is popular among users of the Celo blockchain, especially in regions where crypto wallets are a gateway to financial access.

This separation of team and product highlights a unique aspect of the deal—Stripe gains talent and insight without taking over the existing product. It’s a win-win that allows Stripe to scale its crypto operations without disrupting the Valora user base.