(Reuters) – PayPal Holdings Inc. said Monday it would buy an Israeli-based digital asset security provider, as the payments processor looks to strengthen support for cryptocurrencies.
The terms of the contract, which is expected to be finalized in the first half of 2021, have not been released. Curv would be part of the recently created PayPal unit with a focus on cryptocurrencies.
PayPal said last October that it would allow customers to buy, sell and hold cryptocurrencies in its online wallets.
The move to get Curv comes as digital currencies have picked up this year, with more participation from institutional investors including Tesla Inc, Bank of NY Mellon and Square Inc.
Reporting by Niket Nishant in Bengaluru; Edited by Vinay Dwivedi