Market Musings

PayPal is Making a Big Crypto Acquisition, According to Reports

Published on:
March 3, 2021

The e-commerce giant could end up paying a cool $500 million for Curv.

PayPal is Making a Big Crypto Acquisition, According to Reports

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PayPal is reportedly buying the cloud-based wallet provider Curv.


According to CoinDesk, the e-commerce giant could end up paying $500 million for the technology firm — far beyond the $300 million price tag trailed by Israeli media outlets.


Sources have also told Bloomberg that negotiations are currently taking place — but the publication was far more cautious about the chances that a deal will be reached, claiming: “The talks are early and could still fall apart.”


We’ve known for a while that PayPal has ambitious plans to expand its offering in the world of crypto. After enabling customers in the U.S. to buy, sell and hold BTC, ETH, BCH and LTC, the company recently announced that this service will be rolled out to the U.K. — with other international markets to follow.


Millions of merchants will soon be able to accept crypto as a payment method, with the company declaring that initial take-up of cryptocurrencies had greatly exceeded expectations. Users who had bought Bitcoin ended up logging in twice as frequently as they did before.


PayPal had been engaging in talks with BitGo, an older cryptocurrency firm that also offers a crypto custody service, and rumors had suggested the company was prepared to pay as much as $750 million.


But last December, Fortune confirmed that this deal is not going to go ahead.


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