BUSINESS AND FINANCE

PayPal Acquires Crypto Storage Firm Curv

PayPal has been reported to be processing the acquisition of Curv, a crypto custody company that uses technology to power the secure storage of cryptocurrency.

On Tuesday, Israeli media outlet Calcast reported that Curv was being sold for between $200 million and $300 million, without naming the buyer.

However, PayPal has been revealed by anonymous inside sources to be the ones making the acquisition in a Coindesk report.

Last year, Paypal attempted to buy crypto trading and storage firm BitGo, but it all went down the drain before long. So it’s no surprise that the online payments firm would be making this deal, especially after making an entrance into the crypto space last year.

Paypal has made great acquisitions in the past like Venmo, but now it appears the payment giant wants to own something in cryptos.

PayPal partnered with New York-regulated Paxos to offer direct purchases of cryptocurrency for its millions of U.S. users.

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