PayPal bought Curv digital asset storage service. The deal is estimated at at least $ 200 million

PayPal has confirmed the acquisition of Curv, a crypto-custody service.

The legal and financial aspects of the deal should be agreed upon in the first half of this year. The companies did not disclose the amount of the sale, but according to experts, it is at least $ 200 million.

The Israeli Curv platform was acquired as part of a plan to integrate digital assets into the payment infrastructure, according to PayPal vice president Jose Fernandez da Ponte.

PayPal added cryptocurrency support to its payment system in October 2020 and has been actively looking forsuitable custodial service. In the fall, the company tried to reach an agreement with BitGo, but after the negotiations failed, it began to look for other options.

Currently, Curv provides services to a number of large European crypto companies, including eToro and FalconX. This gives the payment giant direct access to the EU market.

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