Curv is a provider of cloud-based infrastructure for digital asset security

PayPal Holdings has announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets.

Based in Tel Aviv, Curv is a provider of cloud-based infrastructure for digital asset security that was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin.

In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. The company recently created a business unit focused on blockchain, crypto and digital currencies to drive sustained growth and innovation in this area.

Curv will join the newly formed group, with its team of technologists adding technical expertise to PayPal.

PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the deal were not disclosed.

Jose Fernandez da Ponte, Vice President and General Manager, Blockchain, Crypto and Digital Currencies, PayPal said that the acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system.

During our conversations with Curv’s team, we’ve been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they’ve built in the last few years. We’re excited to welcome the Curv team to PayPal, he said.

As a pioneer in security infrastructure for digital assets, Curv is proud to be recognised as an innovator and trusted partner to leading financial institutions around the world, he said.

Itay Malinger, CEO of Curv said: Now, as the adoption of digital assets accelerates, we feel there’s no better home than PayPal to continue our journey of innovation. We’re excited to join PayPal in expanding the role these assets play in the global economy.