PayPal Holdings Inc (NASDAQ:PYPL) is purchasing Curv, a technology firm, engaged in the secure storage of Bitcoin (CRYPTO: BTC) and other cryptocurrencies, CoinDesk reported Tuesday.
What Happened: Curv’s price tag was reportedly pegged at between $200 million and $300 million by local Israeli media, which did not name a buyer.
“PayPal is buying Curv for $500 million,” a person from within the digital asset custody space told CoinDesk.
Curv has raised $29.5 million in three funding rounds, as per Crunchbase. Investors include Franklin Templeton Investments, Team 8, and Coinbase Ventures.
Why It Matters: The Peter Thiel-co-founded PayPal turned to Curv after talks centered on acquiring BitGo fell through last year, noted CoinDesk.