PayPal Buys Curv
March 9, 2021
PayPal Holdings has agreed to acquire Curv to accelerate and
expand its initiatives to support cryptocurrencies and digital assets.
Curv is a leading provider of cloud-based infrastructure for digital
asset security based in Tel Aviv, Israel.
Financial terms of the deal
were not disclosed. But, sources say the deal is in the $200 million
PayPal has agreed to acquire Curv, a leading provider of cloud-based
infrastructure for digital asset security, to accelerate and expand its
initiatives to support cryptocurrencies and digital assets.
In October 2020, PayPal announced its commitment to help shape the role
that digital currencies will play in the future of financial services
and commerce. To drive sustained growth and innovation in this area, the
company recently created a business unit focused on blockchain, crypto
and digital currencies. Curv will join the newly formed group, with its
strong team of technologists adding technical expertise to PayPal.
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,"
said Jose Fernandez da Ponte, vice president and general manager,
blockchain, crypto and digital currencies, PayPal. "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."
Curv was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.
"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."
PayPal expects to complete the acquisition in the first half of 2021. .