As reported by ChainCatcher, payment giant Stripe has acquired the team from crypto startup Valora through a 'acqui-hire' to expand its cryptocurrency business. Valora founder Jackie Bona announced that the team will join Stripe to advance its mission of expanding global financial access. The deal terms, including the number of Valora employees joining Stripe, were not disclosed. Bona noted that the acquisition does not include Valora's intellectual property, and the app will continue to operate under its original parent company cLabs. Valora, launched in 2021, developed a mobile-first, self-custodial crypto wallet focused on stablecoins on the CELO blockchain. The company aimed to make sending crypto as simple as sending a text message and had partnered with M-Pesa and Tether to expand its reach in Africa and promote global stablecoin adoption.
Stripe Acquires Valora Wallet Team to Expand Stablecoin Services
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Summary
Stripe has acquired the Valora Wallet team to boost its stablecoin services, as reported in the latest cryptocurrency news. Valora founder Jackie Bona confirmed the team will join Stripe to support its mission in global financial access. The deal excludes Valora’s IP, and the app will remain under cLabs. Valora, a CELO-based stablecoin wallet, partnered with M-Pesa and Tether to drive adoption in Africa. The move aligns with ongoing shifts in global crypto policy and reflects Stripe’s push into the crypto space.
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