PayPal recently announced that it will acquire Curv, an Israeli digital cryptocurrency security firm, to accelerate and expand its plans to support cryptocurrencies and digital assets.
In October 2020, PayPal announced its commitment to help shape the role of digital currencies in future financial services and commerce. In order to promote continued growth and innovation in this field, the company recently established a business unit focused on blockchain, encryption, and digital currency. Curv will join the team, and its team of technical experts will add technical expertise to PayPal.
PayPal expects that the transaction will be completed in the first half of 2021, but did not disclose specific terms.
Curv is an Israel-based digital asset security technology startup and is a globally trusted provider that delivers a fully scalable, cloud service and enterprise-grade. Its multi-party computation (MPC) technology simultaneously provides protection, instant availability, and total autonomy over digital assets in the digital economy.