Paypal Acquiring Crypto Security Firm Curv to Expand Digital Asset Initiatives
Payments giant Paypal has announced that it is acquiring Tel Aviv-based crypto security infrastructure provider Curv. According to Paypal, this acquisition will help the company “expand its initiatives to support cryptocurrencies and digital assets.” The deal is reportedly worth less than $200 million. Paypal Holdings Inc. (NASDAQ: PYPL) announced Monday “that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets.” Founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin, Curv is a leading provider of....
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Payments giant PayPal will be acquiring digital asset custody provider Curv as it strengthens its new cryptocurrency services.
The platform said it plans to complete the acquisition before the third quarter of 2021. Payments giant PayPal has acquired Israel-based crypto custody firm Curv for an undisclosed amount.According to PayPal, the firm purchased Curv as part of its initiative to support cryptocurrencies and digital assets. The platform said it plans to complete the acquisition before the third quarter of 2021, but did not disclose the purchase amount. Israel-based media outlet Calcalist said last week that Curv may have sold for between $200 million and $300 million, with CNBC reporting on Monday that “The....
Curve Finance is up nearly 30% in 24 hours after traders rallied into the wrong market in response to news that PayPal may have acquired the crypto custodian, Curv. Excitable speculators mistakenly rushed to invest in the native token of decentralized finance protocol Curve Finance (CRV) after reports emerged that payments giant PayPal has acquired the unrelated Israel-based crypto custody firm, Curv.News of PayPal’s Curv acquisition was reported on March 2, with the publications citing anonymous sources “familiar with the matter.” Israel-based media has reported the company may have been....
Paypal’s cryptocurrency services are coming to the United Kingdom, as the digital payments giant is now targeting non-U.S. countries. Buy, sell and hold digital asset products could be available for Paypal’s U.K. customers in “a number of months.” Results With the Paypal Crypto Services Have ‘Exceeded’ Expectations in the US During Paypal’s Investor Day 2021 event, Jonathan Auerbach, executive chief strategy and growth officer at the digital payments firm, unveiled plans of deploying the crypto services in the region. According to the executive,....
Xapo CEO Wences Casares has been appointed to PayPal’s board of directors, the pioneering online payments firm announced today. The former founder of digital wallet firm Lemon Inc, acquired by LifeLock in 2013, Casares would go on to launch bitcoin security startup Xapo, which has raised more than $40m in two public funding rounds. In the official release, PayPal lauded Casares for his past entrepreneurial efforts and position as a “cryptocurrency thought leader”. While he did not cite bitcoin specifically, Dan Schulman, president and CEO of PayPal, aimed to position Casares as an addition....