Stripe acquires Valora wallet team as it builds out stablecoin services
Stripe has acqui-hired the team behind the Valora stablecoin wallet to bolster its growing stablecoin operations.Summary
Payments giant Stripe has acquired the team from crypto startup Valora, which developed a mobile-first, self-custody cryptocurrency wallet focused on stablecoins on the Celo blockchain. Valora founder Jackie Bona announced the team will join Stripe to advance global financial access, though the deal did not include Valora's intellectual property; the app will return to cLabs for future development. This move aligns with Stripe's increasing focus on stablecoins, following its acquisition of Bridge and the launch of its Open Issuance platform for bespoke stablecoins. Stripe is also pursuing a national bank charter in the U.S. Valora, which spun out of cLabs, previously raised $20 million from investors like Andreessen Horowitz and is known for aiming to simplify crypto transfers.
(Source：The Block)