Stripe acquired Privy last year and Bridge for $1.1B — now Privy's embedded wallets pipe directly into WalletConnect Pay's multi-chain rails without ever leaving the app. That's Stripe quietly assembling a full-stack crypto payments layer (wallet infra + stablecoin settlement + merchant distribution) while WalletConnect handles the chain abstraction across 700+ wallets and 75k+ apps. One-tap checkout with no network switching or redirect friction is exactly what killed PayPal's redirect-era dominance in Web2 — the parallel here is that whoever owns the in-app payment surface owns the margin, and Stripe is positioning to be that layer for onchain commerce too.

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