08 Mar 2021,Monday: An online payments system, PayPal has announced that it plans to acquire Israel-based cryptocurrency security startup Curvp based in Tel Aviv in a deal reportedly worth less than $200 million.
Curv is a cryptocurrency security startup and operates a cloud-based service that helps you store your crypto assets securely and lets you access your crypto wallets without any hardware device, you can also create allow lists so that transactions can go through more easily. The company also lets you set up sophisticated policies.
Curv also lets you set up sophisticated policies so that the new intern cannot withdraw crypto assets without some sort of approval chain. Similarly, you can create allow lists so that regular transactions can go through more easily.
PayPal said that Curv team will join the cryptocurrency group within PayPal, it is expected to close in the first half of 2021 and did not reveal the financial details of the acquisition deal.
The Israel-based cryptocurrency security startup will join PayPal’s newly formed cryptocurrency unit with 40 employees.