PayPal is rumoured to be in the process of acquiring Curv, a tech firm that powers the safe storage of cryptocurrencies, according to three separate sources acquainted with the matter.
Israeli-based news outlet Calcalist informed on Tuesday that Curv was being marketed for between $200 million and $300 million, with no naming of the acquisitor.
“PayPal is purchasing Curv for $500 million,” an expert working within the virtual asset custody industry, has shared to CoinDesk on Monday. “Considering from where I’m receiving this information, it’s almost certainly true.”
A few people from the cryptocurrency sphere have shared that PayPal, a company that made its entrance in the industry last year, has turned its attention to Curv after negotiations to acquire crypto trading and custody service provider BitGo fell apart. PayPal reportedly offered $750 million in cash in exchange for BitGo, two unnamed sources acquainted with the negotiations have revealed.
PayPal cooperated with New York-based company Paxos to enable direct purchases of crypto products for its millions of U.S. clients. The payments giant announced last month it would be offering its crypto services in the U.K. in the near future.
We remind that not only financial service providers, such as PayPal, but also major investment banks are now actively working in the crypto field with JPMorgan strategists advising investors to invest 1% of their portfolio in Bitcoin.
