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March 8, 2021Blog Posts

PayPal is acquiring crypto security company Curv, for less than $200 million

CNBC

PayPal will acquire cryptocurrency security firm Curv as part of its push into digital tokens, the company announced Monday.

The deal is worth less than $200 million, a person familiar with the matter told CNBC. It’s expected to close in the first half of 2021. Shares of PayPal were down more than 1% Monday morning.

Founded in 2018, Curv provides companies with digital asset security technology that’s delivered as a cloud service. PayPal said the deal will help “accelerate and expand” its support of cryptocurrencies and digital assets.

The deal comes just a few months after the company affirmed its commitment to the fast-growing segment, saying in October the shift to tokens is “inevitable.” PayPal also recently created a new business unit focused on blockchain, crypto and digital currencies. Curv will join that newly formed group, PayPal said.

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