PayPal plans to buy a service for storing cryptocurrency

The media learned about PayPal’s plans to buy a service for storing cryptocurrency. One of the sources of the CoinDesk publication claims that the payment system will acquire Curv for $ 500 million.

Payment company PayPal will acquire the custody service Curv for storing cryptocurrencies, CoinDesk writes, citing three sources. One of them stressed that the deal will amount to $ 500 million. The publication reports that PayPal showed interest in the startup after the deal to buy BitGo fell through at the end of last year.

On March 2, Israeli news portal Calcalist reported that Curv is selling for $ 200-300 million. PayPal did not respond to CoinDesk’s request, Curv declined to comment on the matter.

Pay Pal and Cryptocurrencies

Last November, PayPal opened the cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, and Litecoin to US customers. Since then, all American users of the service can buy, hold and sell cryptocurrency directly through PayPal.

This year, the company plans to add the ability to pay with digital money to 26 million retail outlets. Stores will not accept cryptocurrency directly but after conversion to dollars.

Read actual crypto news and crypto forecasts every day on https://news.bitxmi.com/

Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.