Following rumors last week, today PayPal confirmed it has acquired cryptocurrency custody firm Curv. Financial terms were not disclosed, but Israeli press put the figure as $200 million to $300 million.
PayPal launched cryptocurrency trading in the U.S. late last year with the service powered by U.S.-based Paxos.
“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,” said Jose Fernandez da Ponte, VP and general manager, blockchain, crypto and digital currencies, PayPal.
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