PayPal snatching up Curv to boost security of digital assets
The Israeli company will join the fintech giant's business unit focused on blockchain, crypto and digital currencies
Cybertech
| 14/03/2021
Photo: Bigstock
US-based payment giant PayPal announced this week that it has agreed to acquire Israel's Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. The Tel Aviv-based company is a provider of cloud-based infrastructure for digital asset security.
Curv will join PayPal's recently-formed business unit focused on blockchain, crypto and digital currencies, said PayPal, whose platform is said to empower more than 375 million consumers and merchants in more than 200 markets.
"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," said Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto and digital currencies, PayPal.
Curv was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.
"As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner to leading financial institutions around the world," said CEO Malinger. "Now, as the adoption of digital assets accelerates, we feel there's no better home than PayPal to continue our journey of innovation."
Curv's multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability and total autonomy over digital assets required to thrive in the digital economy, according to the company.
PayPal said that it expects to complete the acquisition of Curv in the first half of 2021. Financial terms of the deal were not disclosed.
The Israeli company will join the fintech giant's business unit focused on blockchain, crypto and digital currencies
Photo: Bigstock
US-based payment giant PayPal announced this week that it has agreed to acquire Israel's Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. The Tel Aviv-based company is a provider of cloud-based infrastructure for digital asset security.
Curv will join PayPal's recently-formed business unit focused on blockchain, crypto and digital currencies, said PayPal, whose platform is said to empower more than 375 million consumers and merchants in more than 200 markets.
"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," said Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto and digital currencies, PayPal.
Curv was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.
"As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner to leading financial institutions around the world," said CEO Malinger. "Now, as the adoption of digital assets accelerates, we feel there's no better home than PayPal to continue our journey of innovation."
Curv's multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability and total autonomy over digital assets required to thrive in the digital economy, according to the company.
PayPal said that it expects to complete the acquisition of Curv in the first half of 2021. Financial terms of the deal were not disclosed.
