PayPal Said to Be in Talks to Buy Crypto Firms Including BitGo: Bloomberg
The news comes a day after the payments giant confirmed it's entering the cryptocurrency market.
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Talks regarding a possible acquisition by PayPal of bitcoin custodian BitGo have fallen through, Fortune reported, citing multiple sources. Read more: PayPal Said to Be in Talks to Buy Crypto Firms Including BitGo: Bloomberg
ALSO: PayPal is said to be in talks to purchase cryptocurrency firms including BitGo. What does that mean for crypto?
Shortly after it was revealed PayPal will launch crypto payments in 2021, rumors are circulating that the payments giant is looking to purchase a digital asset custodian. Global payments firm PayPal is looking to acquire a crypto asset custody firm, with a report published by Bloomberg on Oct. 23 claiming the company is currently in talks with BitGo Inc.Anonymous sources cited in the report claimed that the two companies may reach an agreement within a matter of weeks. BitGo is a multi-signature custodian that was founded in 2013. In 2018 the company raised $15 million in a round led by....
Bitgo’s assets under custody have surpassed $16 billion. The company says it is seeing “unprecedented interest from institutional investors,” resulting from the economic impact of the coronavirus pandemic and the recent bitcoin bull run. Paypal was also rumored to be in acquisition talks with the company. $16 Billion in Cryptocurrencies Under Custody Bitgo announced Wednesday that it has hit a new milestone of more than $16 billion in digital assets under custody. The company noted that the achievement further validates institutional investor interest in cryptocurrency,....
David Marcus, PayPal President stated that the company was thinking a lot about bitcoin. David Marcus, president of EBay Inc.'s PayPal unit, talks about mobile payment security and the prospects for virtual currency bitcoin. He speaks to Guy Johnson on Bloomberg Television's show called "The Pulse". When Guy Johnson questioned PayPal President about what was his vision on bitcoin, David Marcus answered: "I've been spending a lot of time looking at it! And it's truly fascinating actually; the way that the currency has been designed and the way the inflation is built in to pay for miners and....