PayPal Holdings, Inc. (NASDAQ: PYPL) has agreed to acquire Curv to drive growth and innovation in crypto payments.
Curv
Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel. Curv’s multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability and total autonomy over digital assets required to thrive in the digital economy.
Key Points of PayPal – Curv Acquisition Deal
- Curv was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.
- To drive sustained growth and innovation, PayPal recently created a business unit focused on blockchain, crypto and digital currencies.
- Curv will become part of this business unit, with its strong team of technologists adding technical expertise to PayPal.
- PayPal did not disclose the deal value, however, it was around $200 million as per media reports.
- PayPal expects to complete the acquisition of Curv in the first half of 2021.
Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto and digital currencies, PayPal, 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. 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. We’re excited to welcome the Curv team to PayPal.”
“As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner to leading financial institutions around the world,” said Malinger. “Now, as the adoption of digital assets accelerates, we feel there’s no better home than PayPal to continue our journey of innovation. We’re excited to join PayPal in expanding the role these assets play in the global economy.”
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