Payments giant Stripe acquires team from crypto wallet app Valora
Cointelegraph
Stripe acquired Valora's team to bolster its crypto initiatives as Valora's app ownership reverts to cLabs.Summary
Payments giant Stripe has acquired the team behind the crypto wallet app Valora, with the team joining Stripe to work on blockchain initiatives. Valora, which spun out of cLabs in 2021 and raised $20 million in Series A funding, developed a mobile wallet supporting stablecoins and Web3 apps. According to Valora CEO Jackie Bona, the acquisition will allow the team to contribute their expertise to Stripe's platform, accelerating the expansion of stablecoin and crypto access. The Valora app will continue to operate under cLabs' ownership. This move follows Stripe's recent launch of its Tempo testnet, a stablecoin-focused blockchain project, signaling a growing commitment to the blockchain space.
(Source：Cointelegraph)