PayPal Confirms Curv Acquisition

PayPal has announced its decision to acquire Israel-based cryptocurrency security firm Curv as part of its digital token movement. Allnews reported that the acquisition was in progress last week

While rumors still surround the deal's worth, PayPal is yet to disclose the amount it is spending on the acquisition.

READ MORE: PayPal Acquires Crypto Storage Firm Curv

Curv is a cryptocurrency security company, founded in 2018, that operates a cloud-based service, letting its users access their crypto wallet without any hardware device.

PayPal said in a statement that the deal will help “accelerate and expand” its support of cryptocurrencies and digital assets.

"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," said Jose Fernandez da Ponte, vice president, and general manager of PayPal’s crypto and blockchain division. "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.”