PayPal has revealed it has agreed to acquire Israel-based cryptocurrency custody firm Curv for less than $200 million. The deal is expected to close in the first half of this year.
In an announcement, PayPal detailed its plans to use the acquisition to “accelerate and expand its initiatives to support cryptocurrencies and digital assets.” Jose Fernandez da Ponte, PayPal’s vice president and general manager of blockchain, crypto, and digital currencies said the acquisition is “part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system.”
He added:
“During our conversations with Curv’s team, we’ve been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they’ve built in the last few years.”
Curv co-founder Itay Malinger said that as the adoption of digital assets accelerates, the firm feels there’s “no better home than PayPal to continue our journey of innovation.”
Mr. Graham Frame – We Share Abundance Power of One Charity Community & WESA CryptoCurrency Token Founder
