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PayPal To Acquire Crypto Custodian Curv In The First Half Of 2021
Summary: PayPal announced on Monday that it has agreed to acquire Curv, a crypto custody company located in Tel Aviv, Israel, which uses a new type of crypto technology to protect customers' Bitcoin and other digital assets. The announcement stated that Curv will join PayPal's newly formed blockchain, crypto and digital currency business team. Curv's cloud-based services ...
PayPal announced on Monday that it has agreed to acquire Curv, a crypto custody company located in Tel Aviv, Israel, which uses a new type of crypto technology to protect customers' Bitcoin and other digital assets. The announcement stated that Curv will join PayPal's newly formed blockchain, crypto and digital currency business team.
Curv's cloud-based services and technology stack eliminate the concept of private keys through multi-party computation (MPC), allowing blockchain transaction signatures in a secure and distributed manner to prevent network vulnerabilities and internal collusion.
To date, Curv has raised more than $30 million, investors include the well-known fund management company Franklin Templeton, Illuminate Financial Management, Coinbase Ventures, Digital Currency Group, etc.
PayPal did not disclose financial terms and said the acquisition is expected to complete in the first half of 2021. Earlier sources said the acquisition amount was close to $200 million.
By Mary Liu
Tags: Blockchain,Curv,MPC,Paypal
Link: PayPal To Acquire Crypto Custodian Curv In The First Half Of 2021 [Copy]
