Connect with us
Active Currencies 12845
Market Cap $2,053,549,666,216.20
Bitcoin Share 49.25%
24h Market Cap Change $-1.38

PayPal to acquire crypto asset security firm Curv

1min Read

Share this article



Payments giant PayPal Holdings Inc. announced its intention to acquire Tel-Aviv crypto-focused startup, Curv. The firm expects to complete the acquisition of Curv in the first half of 2021; however, the financial aspects of the deal remain undisclosed. Earlier, local reports mentioned that Curv was being sold for about $500 million, to an unnamed buyer, at the time. 

Addressing the plans, Vice president and general manager, blockchain, crypto, and digital currencies at PayPal, Jose Fernandez da Ponte, said:

The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system.  

The firm stressed its “commitment” to help shape the role that crypto assets will play in the future of commerce. The Paypal team mentioned its recently created crypto and blockchain-focused business that will help the firm “drive sustained growth and innovation” in the digital currency ecosystem. 

Certain reports stated that PayPal had been planning to acquire Curv, in particular. Last year, some speculated that the payments firm would plan to acquire brokerage business BitGo as well. 

However, by the end of last year, BitGo CEO Mike Belshe confirmed that there was no possibility of PayPal buying his company. While he said that BitGo was “in talks with everyone,” he said the firm would not accept a “small exit.”


Nevertheless, the milestone deal with Curv would be PayPal’s first confirmed plan among perhaps many others, to acquire crypto-focused firms.  


Share

Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.