PayPal Acquires Digital Asset Custody Company Curv
The electronic payments company made the move in an effort to expand its initiatives in the cryptocurrency sector.
Are cryptocurrencies the thing of today? Yes, cryptocurrencies are the topic of the moment. In this context, PayPal acquired a company that specializes in security infrastructures for digital assets called Curv.
With this move, the electronic payments company plans to expand the technical knowledge of its cryptocurrency, digital currency and blockchain business unit, as stated in a statement.
We're excited to announce that Curv is being acquired by @PayPal ! Our technology and expertise in #digitalassetsecurity will help PayPal drive innovation in #blockchain , #crypto and #digitalcurrencies . https://t.co/skeZ2XnZ00- curvmpc (@curvmpc) March 8, 2021
"The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision of a more inclusive financial system," said José Fernández da Ponte, vice president and general manager of blockchain, cryptocurrencies and digital currencies at PayPal.
This PayPal department was recently developed and, with it, the brand aims to shape the role of digital currencies in the future of finance and commerce.
"During our conversations with the Curv team, we have been impressed by their technical talent, entrepreneurial spirit and the thinking behind the technology they have built over the past few years. We are excited to welcome the Curv team to PayPal," said da Put.CNBC , the electronic payments firm acquired the startup for $200 million. Curv is a cloud-based infrastructure provider for digital asset security based in Tel Aviv, Israel, and was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.