Last week, the media reported on the intention of PayPal to acquire the developer of the service for storing the Curv cryptocurrency.
The journalists found out that negotiations between the giant and the Israeli startup are in full swing. However, the top management of PayPal remained silent until the beginning of this week and refrained from any comments.
Last Monday, the financial company issued a statement in which it confirmed preparations for a deal to purchase the team that developed the custodian service.
PayPal Vice President Hoe Fernandez da Ponte emphasized:
The purchase of Curv was part of our strategy to invest in technology and talent as part of the modernization of the financial system. During our conversations with the Curv team, we were impressed by the talent as well as the entrepreneurial spirit and mindset behind the technology. We are delighted to welcome the Curv team to PayPal.
Recall that back in October last year, the company announced the launch of a service for operations with digital currencies.
PayPal top managers plan to complete the deal to buy the startup by the middle of this year.
However, the press service of the company still refuses to disclose the amount of this transaction, but emphasizes that with such an acquisition, it wants to gain a foothold in the digital asset market.
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