Payment giant Stripe acquires Valora wallet team to expand its stablecoin services

Gold Financial News reports that payments giant Stripe has recently acquired the team of cryptocurrency startup Valora to expand its stablecoin services. On Wednesday, Valora founder Jackie Bona announced that the team would join Stripe, “in pursuit of the mission to expand the coverage of the global financial system.” The terms of the deal have not been disclosed, including how many Valora employees will join Stripe. Valora was launched in 2021 and developed a mobile-first, self-custodial cryptocurrency wallet application focused on stablecoins on the blockchain. According to Bona, Stripe’s acquisition does not seem to include the intellectual property behind Valora’s technology, and the application will “return to its original parent company cLabs, which will continue to be responsible for its future development.”