(Update: After this article was written, PayPal confirmed purchasing Curv on late Monday)
PayPal Holdings Inc., the American company that offers online payments, is currently exploring the possibility of buying Curv.
Curv is a digital asset security company that helps create hot and cold digital wallets and keyless security infrastructure. It was founded in 2018 and even though it’s headquartered in New York, it has important offices in Tel Aviv, Israel, the place where the rumors initially started spreading.
Calcalist, an Israeli media, said an anonymous bidder made an offer to Curv. At first, the amount was said to be around $200 and $300 million, but another source assumes the bid to be $500 million.
It is important to note that neither of the companies has made an announcement yet, but since PayPal’s interest in cryptocurrency isn’t something new, the rumors are almost certain.
PayPal’s history with cryptocurrencies
In October 2020, the company allowed its US customers to trade digital assets like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on its platform.
During the first part of 2021, PayPal is expected to permit crypto trading for its UK users and some other global markets. On the second one, it was predicted that a crypto unit on the platform will allow customers to make purchases using directly their digital currencies.
PayPal plans to become a one-stop shop according to CEO Dan Schulman.
“That’s really the promise of a super-app, where you can live a lot of your digital life on one app and then be able to manage all of your transactions in one place, track them all, and have personalized, customized recommendations,” he said in an interview.
Even though until now PayPal’s cryptocurrency integration has been slower than that of other companies, the growing interest in digital assets is making the company invest in a bigger and faster way lately.