Privy, the wallet service owned by Stripe, announced early this morning Beijing time that it is partnering with Ripple to connect its embedded wallets to the XRP Ledger, the blockchain that $XRP runs on.
XRP is the native currency of the XRP Ledger, a blockchain focused on payments and currency exchange. It offers fast transfers and low fees, and Ripple’s dollar stablecoin, RLUSD, is also issued on it.
Put simply, app developers will be able to create XRP Ledger wallets for users and sign transactions on their behalf from the back end, so users don’t have to manage their own private keys. Those who want to hold their own keys can also export their private keys or recovery phrases and take them with them.
They say the blockchain already has more than 8 million funded accounts.
What makes this significant is that Stripe is behind Privy. Stripe acquired Privy last year, and many fintech apps already use it for wallets. Now they have an off-the-shelf way to build RLUSD payments directly into their existing products.
Another key area is payments by AI agents: server-side wallets can let agents hold funds and pay on their own. Access controls and fee sponsorship aren’t ready yet, but Privy says it will add them step by step.
XRP is the native currency of the XRP Ledger, a blockchain focused on payments and currency exchange. It offers fast transfers and low fees, and Ripple’s dollar stablecoin, RLUSD, is also issued on it.
Put simply, app developers will be able to create XRP Ledger wallets for users and sign transactions on their behalf from the back end, so users don’t have to manage their own private keys. Those who want to hold their own keys can also export their private keys or recovery phrases and take them with them.
They say the blockchain already has more than 8 million funded accounts.
What makes this significant is that Stripe is behind Privy. Stripe acquired Privy last year, and many fintech apps already use it for wallets. Now they have an off-the-shelf way to build RLUSD payments directly into their existing products.
Another key area is payments by AI agents: server-side wallets can let agents hold funds and pay on their own. Access controls and fee sponsorship aren’t ready yet, but Privy says it will add them step by step.