NEW YORK: PayPal will acquire cryptocurrency security firm Curv as part of its push into digital tokens, a news release said.
The deal is expected to close in the first half of 2021.
Founded in 2018, Curv provides companies with digital asset security technology that’s delivered as a cloud service. PayPal said the deal will help “accelerate and expand” its supporting of cryptocurrencies and digital assets.
PayPal also recently created a new business unit focused on blockchain, crypto and digital currencies. Curv will join that newly formed group, PayPal said.
“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,” PayPal’s Jose Fernandez da Ponte said in a statement.