Curv Crypto Startup Acquired By PayPal For Close To $200 Million

Today Curv Inc, a digital asset startup, was announced to have been acquired by PayPal Holdings Inc. With this acquisition, PayPal will easily be capable of expanding its various initiatives focused on supporting digital assets and cryptocurrencies in general.

Gobbling Up New Innovations

Curv was founded back in 2018, and is known as a digital asset security infrastructure technology developer. Curv tried to fill its own niche by catering to financial institutions and other crypto companies that wish to create their own digital wallets for their own uses. Both engineers and cryptographers that made use of the keyless technology Curv offers were capable of developing various flexible deployment models thanks to the tX platform, which Curv launched in July of 2020.

Curv Already Has A Name For Itself

Curv claims that multiparty computation security technology is mandatory for any party wishing to store, transfer, or otherwise manage cryptocurrencies on any sort of distributed ledger or blockchain safely. It just so happens, of course, that it offers exactly that for any firm not up to the task of doing it for themselves.

The tech stacks and keyless MPC technology offered by Curv allows firms to develop digital asset security solutions that are fully customizable. Among other features is the ability to support hot, cold, and even warm wallet configurations, as well as being completely scalable.

As for who’s already signed up for the Curv experience, that would be  FalconX Ltd, eToro Group Ltd, Korbit Inc, Genesis Global Trading Inc, Bitbond GmbH, Swissbord Solutions OU, BNP Paribas S.A, as well as Zero.

The Mandatory Public Statements

It was back in October of last year when PayPal really made a push into the crypto space. It did so through an exchange platform that allows PayPal users to trade in various cryptocurrencies. Curv’s acquisition will only complement this expansion. The startup will stand part of a newly-formed group within PayPal wholly dedicated to crypto, blockchain, and digital assets.

Jose Fernandez da Ponte stands as the Vice President and General Manager for PayPal’s Blockchain, Crypto, and Digital Currencies division. He gave the mandatory public statement and explained that the Curv acquisition stands as part of the company’s efforts to create a more inclusive financial system. The acquisition does so through being an investment in new technology and talent.