PayPal Holdings will acquire Curv, a Tel-Aviv based provider of cloud-based infrastructure for digital asset security. Financial terms of the deal were not disclosed, and PayPal expects to complete the purchase in the first half of 2021.
In October 2020, PayPal committed to helping shape the role that digital currencies will play in the future of commerce and financial services, and the company recently created a business unit focused on blockchain, crypto and digital currencies. Curv will join the newly formed group, bringing its strong team of technologists to add technical expertise in these areas.
“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, VP and General Manager for Blockchain, Crypto and Digital Currencies at PayPal in a statement. “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.”
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 in a statement. “We’re excited to join PayPal in expanding the role these assets play in the global economy.”
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