With the purchase of cryptocurrency company Curv, PayPal seeks to strengthen its unit after it began allowing its users to buy, sell and hold certain cryptocurrencies.
“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision of a more inclusive financial system,” said José Fernández da Ponte, vice president and general manager of blockchain, crypto and digital currencies. PayPal, in the statement.
“During our conversations with the Curv team, we have been impressed by their technical talent, entrepreneurial spirit and the thinking behind the technology they have built.”
PayPal said it expects the acquisition to be completed by mid-year. Last year, Curv announced that it had raised $ 30 million in total funding from investors such as CommerzVentures, Coinbase Ventures, and Digital Currency Group.
