Several sources are reporting that payment company PayPal is planning to buy out Israeli crypto custodian service Curv.
The first to report this was the Israeli newspaper Calcalist. According to the publication, the American payment giant will pay between $ 200 million and $ 300 million for the acquisition of Curv. And the cryptocurrency publication CoinDesk, citing its own source, reports on the sale of Curv for $ 500 million.
“From my data, I’m pretty sure it’s true,” a source told CoinDesk.
Apparently, PayPal turned its attention to the startup Curv after the failure of negotiations to buy BitGo, which ended in late 2020. At the same time, the payment company planned to spend $ 750 million on the purchase of BitGo.
“PayPal has already bought expensive companies, for example, Venmo, and now they want to buy something in the cryptocurrency industry,” – said the source CoinDesk.
After the first information about the purchase of the Curv startup appeared, the cost of CRV tokens increased from $ 2.3 to $ 2.6. The token belongs to the Curve Finance decentralized finance project and it looks like traders started buying it by mistake.
As a reminder, PayPal added cryptocurrency support for US users in October 2020. In early February, it became known that the payment giant will launch a new division to work in the cryptocurrency industry.
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