May 15, 2021

PayPal could not agree with BitGo to buy a crypto custody service

PayPal could not agree with BitGo to buy a crypto custody service

PayPal is considering new options for acquiring a cryptocurrency storage platform as negotiations with BitGo fell through.

According to Fortune, the payments giant has resumed its search for possible custody services to buy. According to the sources of the publication, the companies could not agree on the terms.

BitGo CEO Mike Belshe did not givea clear comment on this, saying that negotiations are underway with all potential buyers, but the company will not agree to small offers.

Currently custodian service supports over 300 digital assets and stores more than $ 16 billion worth of cryptocurrency.

So far, PayPal has been supplying cryptocurrency for its new service through the Paxos brokerage solution.

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