Privy Connects Crypto Wallets and Bank Accounts

Privy announced on September 1, 2026, the connection of its wallets to banking systems via APIs. Users can transfer funds from their bank account to a Privy wallet, where the money is converted into stablecoins. The reverse process is also possible with a single API call. This integration utilizes Bridge, a subsidiary of Stripe, which manages virtual accounts and conversion within a regulated framework. Privy offers KYC flows for individuals and KYB for businesses, allowing for simplified identity verification. Each wallet can be linked to a virtual bank account without a reference code. Payment rails include ACH and wire transfers in the United States, Faster Payments in the UK, SEPA in Europe, and PIX in Brazil. The infrastructure is compatible with multiple blockchains, including Ethereum and Solana. This initiative aligns with Stripe's strategy for Bridge, which recently obtained a banking license in the United States. The stablecoin market exceeds $183 billion, and this connection facilitates access to financial services for users and developers.

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