The creators of the crypto payments app Valora are joining forces with Stripe as the payment leader expands its reach into blockchain technology and stablecoins, according to a blog post from Valora founder Jackie Bona on Wednesday blog post.
“We’ve witnessed how access to stablecoins and crypto infrastructure can enhance economic opportunities,” stated Bona. “Recently, we recognized that we could speed up our mission by partnering with Stripe, one of the top financial infrastructure platforms globally.”
Valora is a mobile-oriented crypto payments application built on the , utilizing the Ethereum layer-2 network. The startup emerged from cLabs, the organization developing Celo, in 2021 and secured $20 million in funding at that time.
A spokesperson from Stripe confirmed the news to CoinDesk, noting that the Valora team’s proficiency in crypto wallet infrastructure and on-chain developer tools adds significant knowledge to their ongoing crypto initiatives.
This update comes right after Stripe’s recent efforts to integrate crypto solutions into its payment system, as stablecoins gain traction as effective tools for cross-border payments. The company recently acquired stablecoin infrastructure company Bridge and wallet application Privy. Additionally, it collaborated with crypto investment firm Paradigm to create a payment-oriented blockchain named Tempo, specifically designed for stablecoin transactions. Tempo is currently in its testing phase.
Read more: Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains
