The payment giant after previously attempting to acquire BitGo, is now considering acquiring startup Curv, which offers secure storage for cryptocurrencies, for hundreds of millions of dollars. But didn't they say they weren't interested in cryptocurrencies? Oh yeah?
Several anonymous sources have confirmed to the Israeli media Calcalist and the news channel focused on crypto crypto-Evaluate the possibility of the acquisition agreement. However, neither PayPal (PayPal shares - ticker PYPL) nor Curv have officially provided any confirmation.
100? 200? Let's do 500 and no more talk about it!
Although the confirmation has not yet arrived, the sources think that the agreement should be done, although there is still no linearity on the figures at stake. While one source points out that the deal may have already been closed for between $ 200 million and $ 300 million, another expects the offer to reach $ 500 million.
"Where I heard this news, I'm pretty sure it's true," said a source from Crypto-Currency, who expects the acquisition figure to be $ 500 million.
Founded in 2018, Curv is headquartered in New York, but its R&D offices are located in Tel-Aviv. The startup, which is just two years old to date, is promoting its multi-party computing security (MPC) technology, which includes hot and cold wallet distribution and a keyless security infrastructure, backed by a team of cryptographers and cyber security experts.
The startup closed its Series A funding round last October, raising $ 30 million from a range of venture capital.
PayPal's crypto ambitions
PayPal's interest in cryptocurrency startups has grown with the launch of its services in the crypto world, which allows users to buy, sell and own Bitcoin and some other major digital currencies. The company leveraged Paxos to enable its crypto services.
The payment company also attempted to buy the BitGo cryptocurrency platform earlier, but that deal never came to light and the marriage was eventually canceled.
Meanwhile, PayPal is slowly expanding its crypto services for its international user base and is already well on its way to launching the services in the UK, before landing in the rest of Europe and even Italy.
In addition to buying and selling services, the company plans to allow crypto payments to all of its business partners around the world. It is not a question of whether you have reached this point, but only of when it will happen. We are sure now, that little by little we will be able to keep bitcoin in our PayPal wallet and it will be a revolution.
This is the first step that, in our opinion, a company like PayPal must take to remain the undisputed leader in its sector. Technological updating and advancement are essential to remain on the crest of the wave for many years to come. Just look at the progress made by sacred monsters like Amazon and Tesla.
