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Less than three years after its establishment: How much did PayPal pay for the Israeli CURV?
The value of the deal has not been announced, but industry sources estimate that it is close to $ 200 million.
CURV Digital Asset Security Platform, offered as a cloud service, was established in 2018 by Itai Melinger and Dan Yadlin.
According to PayPal, the acquisition is intended to expand its operations in the field of cryptocurrencies
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Monday, 08 March 2021, 17:00 Updated: 17:29
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PayPal, the digital payments giant, announced today in California that it is acquiring the Israeli Curv.
According to the announcement, the acquisition is intended to accelerate and expand PayPal's operations in support of cryptocurrencies and digital assets.
Curv, based in Tel Aviv, develops and provides advanced and cloud-based technology for securing digital assets.
In October 2020, PayPal announced its commitment to defining the role that digital currencies will play in the future of trading and financial services.
To drive growth and innovation in this field, the company recently established a business unit focused on blockchain, cryptocurrencies and digital currencies.
Curv's strong team of technologists will join this unit, adding critical expertise and experience to PayPal.
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CURV digital asset security platform offered as a cloud service (Photo: ShutterStock)
"We were impressed with their talent"
"The acquisition of Curv is part of our mission to invest in talent and technology on the path to realizing our vision to create a broader and more comprehensive financial system," said Jose Fernandez de Ponte, vice president and director of the blockchain, crypto and digital currency business unit at PayPal.
"Throughout our conversations with the Curv team, we have been impressed with their talent, entrepreneurial spirit and the thought processes behind the technology we have built in recent years. We are excited to add Curv to PayPa."
Curv was founded in 2018 by Itai Melinger, CEO and Dan Yadlin, CTO. On their behalf, Melinger said:
“As a pioneer in digital asset security infrastructure, Curv is proud to be recognized as an innovator and strong partner in leading financial institutions around the world.
Now that digital asset adoption is undergoing increased acceleration, we feel there is no better home than PayPal to continue our innovation journey.
We are pleased to join PayPal in the mission to expand the role of these assets in the global economy "
PayPal expects to complete the acquisition in the first half of 2021. Details of the transaction have not been revealed, but sources involved in the details reported to Walla! A company that has existed for less than three years ...
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