PayPal announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets.

Curv is a provider of cloud-based infrastructure for digital asset security based in Tel Aviv, was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.

In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, crypto and digital currencies.

Curv will join the newly formed group, with its team of technologists adding technical expertise to PayPal.

PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the deal were not disclosed.

“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.

 

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. We’re excited to welcome the Curv team to PayPal.”

said Jose Fernandez da Ponte, Vice President and General Manager, Blockchain, Crypto and Digital Currencies, PayPal.

“As a pioneer in security infrastructure for digital assets, Curv is proud to be recognised as an innovator and trusted partner to leading financial institutions around the world.

 

Now, as the adoption of digital assets accelerates, we feel there’s no better home than PayPal to continue our journey of innovation. We’re excited to join PayPal in expanding the role these assets play in the global economy.”

said Itay Malinger, CEO of Curv.

Featured image credit: Photo by Brett Jordan from Pexels

This article first appeared on fintechnews.ch