PayPal Holdings Inc has recently announced that it would buy Curv, the Israel-based digital asset security provider. With this deal, the payments processor company plans to reinforce its support to crypto-currencies.
The terms of the agreement were not disclosed but expected to be completed by H1 of 2021. Basically, Curv will now be a part of PayPal’s newly created crypto currencies-focused unit. PayPal will now enable customers to buy, sell, and hold digital currency in its wallets.
The drive to buy Curv comes as digital currencies have soared amid the pandemic, with increasing involvement from institutional investors. The list includes Bank of NY Mellon, Tesla Inc, and Square Inc.