In an official announcement, Paypal Told that it plans to buy The curve, Israeli cryptocurrency security startup. According to the statement, the acquisition will allow the creation of a set of digital currencies within the company.
PayPal wants that in the near future, the user will be able to use the system to buy and sell global goods using such currencies. This option already exists, but only in the United States, in partnership with Paxos. With the new acquisition, the company should expand PayPal’s own fintech application to other countries and to Vempo, the project.
Curve allows the user to securely store their cryptocurrency assets in the cloud. With the application, it is possible to follow the stock exchange, transfer individual portfolios of digital currencies using brokers and a type of sophisticated approval chain. how? Security key secrets are routinely changed in such a way that if a hacker steals an unprotected laptop, it will not be able to easily access the information stored on this device.
The acquisition is expected to take place during the first half of 2021, but terms of the deal have not been revealed. According to Calclist, the purchase will be made between US $ 200 million and US $ 300 million, but, according to a person close to the negotiations, the acquisition should be for less than US $ 200 million.
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