PayPal to Acquire Curv

March 7, 2021
PayPal to Acquire Curv
PayPal Holdings Inc. (PayPal) intends to acquire Curv - a startup that enables companies to transfer and store digital currencies. Established in 1998, PayPal has global headquarters in San Jose, California, United States, alongside international headquarters in Singapore. World-famous Elon Musk, a co-founder of Tesla Inc, SpaceX, Neuralink, OpenAI, and The Boring Company, was involved in setting up PayPal and was its largest shareholder.

PayPal revolutionized the internet by providing a trustworthy and efficient means of monetizing websites by enabling payments through the Internet. Although discussions are at very early stages, many sources have suggested that PayPal’s ambition to include cryptocurrencies in its arsenal of payment options makes its acquisition of Curv very likely.

Founded in 2018, Curv eliminates private keys and provides an enterprise-grade policy engine. PayPal has already announced plans to add crypto options to its Venmo wallet to give customers the option to buy and sell digital currencies. It has headquarters in New York and a presence in Tel Aviv, Israel. Its customers include Franklin Templeton, a major investment company.

Curv developed the first cloud-based Institutional Digital Asset Wallet Service that leverages cryptography. The deal is expected to be valued in the region of $500 million and comes in the wake of PayPal’s discussions with US-based crypto company BitGo falling through.

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