Financial technology powerhouse Stripe has acquired the development team behind crypto wallet app Valora in a strategic acqui-hire that signals the payments giant's deepening commitment to cryptocurrency infrastructure. As part of the deal, Valora's wallet application will return to its roots under Celo's cLabs ownership, while its engineering talent joins Stripe's growing crypto division.
In a significant development for the cryptocurrency payments sector, Stripe has successfully acquired the engineering team from Valora, a self-custody crypto wallet application, marking another bold step in the payments giant's crypto expansion strategy.
The transaction, structured as an acqui-hire, sees Valora's builders transitioning to Stripe where they will focus on advancing the company's cryptocurrency initiatives. Meanwhile, ownership of the Valora wallet application itself reverts to cLabs, the innovation studio behind the Celo blockchain ecosystem, ensuring continuity for existing users.
This move represents a strategic bet by Stripe on cryptocurrency infrastructure talent at a time when the payments industry is increasingly embracing digital assets. Stripe, which previously discontinued Bitcoin payments in 2018 citing volatility and slow transaction times, has recently reversed course with renewed enthusiasm for crypto integration. The company re-enabled cryptocurrency payments in 2024 and has been steadily building out its digital asset capabilities.
Valora, which launched as a user-friendly mobile wallet for the Celo ecosystem, focused on making cryptocurrency accessible to mainstream users, particularly for remittances and payments in emerging markets. The wallet specialized in stablecoin transactions and emphasized low-fee, fast transfers—capabilities that align closely with Stripe's mission to increase internet commerce.
For Stripe, acquiring Valora's team brings immediate expertise in self-custody wallet infrastructure, mobile-first crypto experiences, and blockchain integration—all critical components as traditional finance continues converging with decentralized technologies. The engineering talent gained through this acquisition could accelerate Stripe's ability to offer more sophisticated cryptocurrency payment solutions to its millions of merchant customers worldwide.
The return of Valora to cLabs suggests a strategic realignment that allows the wallet to remain within the Celo ecosystem while its technical talent contributes to broader crypto adoption through Stripe's massive distribution network. This arrangement could ultimately benefit both organizations and the wider cryptocurrency industry.
As regulatory frameworks mature and institutional adoption grows, such strategic talent acquisitions are likely to become more common as traditional financial technology companies compete to secure blockchain expertise and accelerate their Web3 roadmaps.