Paypal Confirms purchase of cryptocurrency storage service

PayPal has announced the purchase of cryptocurrency startup Curv.

The transaction is expected to be completed during the first half of 2021.

Purchase details

Israeli newspaper Calcalist reported that Curv’s purchase cost between $ 200 and $ 300 million.

SCOOP: @PayPal is buying @curvmpc, a firm that powers the secure storage of cryptocurrency, according to three sources familiar with the situation.@IanAllison123 reportshttps://t.co/mwLBGW5Ytt

— CoinDesk (@CoinDesk) March 2, 2021

However, one of the sources TechCrunch claims that the deal was worth less than $ 200 million.

What is known about Curv

Curv is a secure storage company for cryptoassets.

The firm operates a cloud service that allows access to cryptocurrency wallets without special hardware.

Curv technology is encryption based on secret multilateral computation.

Also read:

This post is the first published on citytelegraph.com

Published On: March 10, 2021

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