PayPal to buy Israeli digital asset security provider Curv
08/03/2021 14:39
March 8 (Reuters) - PayPal Holdings Inc PYPL.O said on
Monday it would buy Israel-based digital asset security
provider Curv, as the payments processor looks to strengthen
support to cryptocurrencies.
The terms of the deal, which is expected to complete in the
first half of 2021, were not disclosed. Curv would be part of
PayPal's recently created cryptocurrencies-focused unit.
PayPal said in October last year, it would allow customers
to buy, sell and hold cryptocurrencies in its online wallets.
The move to acquire Curv comes as digital currencies have
soared this year, with growing involvement of institutional
investors including Tesla Inc TSLA.O , Bank of NY Mellon BK.N
and Square Inc SQ.N .
(Reporting by Niket Nishant in Bengaluru;
Editing by Vinay Dwivedi)
((Niket.Nishant@thomsonreuters.com;))