In October 2020, PayPal has announced its commitment to shape the role that digital currencies will play in the future of financial services and commerce. To bring sustained growth and innovation in this field, the company recently created a business unit focused on blockchain, crypto and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding PayPal technical expertise.
“The acquisition of Curv is part of our effort to invest in talent and technology to realize our vision for a more inclusive financial system,” he said. Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto and digital currencies, PayPal. “During our conversations with Curv’s team, we were impressed with their technical talent, entrepreneurial spirit and the thinking behind the technology they have built up over the past few years. We are excited to welcome the Curv team to PayPal.”
Curv was established by CEO in 2018 Itay Malinger a CTO Dan Yadlin.
“As a pioneer in digital asset security infrastructure, Curv is proud to be recognized as an innovator and trusted partner for leading financial institutions around the world,” said Malinger. “Now that digital asset acceptance is accelerating, we feel there is no better home than PayPal to continue our journey of innovation. We are excited to share with PayPal the role these assets play in the global economy. brei. “
PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the transaction were not disclosed.
About PayPal
PayPal has been at the forefront of the digital payment revolution for over 20 years. Utilizing technology to make financial services and trading easier, more affordable and more secure, the PayPal platform empowers more than 375 million consumers and merchants in more than 200 markets to join the global economy. Visit paypal.com for more information.
About Curv
Curv is a globally trusted provider of digital asset security technology delivered as a fully scalable, operational grade and compliant cloud service. Curv’s multi-party computation (MPC) technology simultaneously provides institutions with the protection, immediate availability and total autonomy over digital assets needed to thrive in the digital economy. For more information, visit curv.co.
Forward-looking statements
This announcement contains ‘forward-looking’ statements in the sense of applicable security laws. Forward-looking statements and information relate to future events and future performance and reflect PayPal’s expectations regarding the impact of this transaction on PayPal and Curv and the timing of the completion of the acquisition. Foresight statements can be identified by words such as “search”, “believe”, “plan”, “estimate”, “anticipate”, expect “,” project, “forecast” or “intentions” and statements that an event or result ” may “,” will “,” must “,” may “, or” may “occur or be achieved and any other similar expressions.
Foresighted statements involve risks and uncertainties that could lead to actual results differing materially from the statements, and therefore readers should not rely unnecessarily on prospects and information. Factors that may cause or contribute to such differences include, but are not limited to, the timing and satisfaction of the closing conditions associated with the transaction, the possibility that the transaction may not close, the response to the transaction of Curv’s customers and business partners, the reaction of competitors to the transaction, the retention of Curv employees, PayPal’s plans for Curv, economic and political conditions in the world markets in which PayPal and Curv operate, the future growth of PayPal and Curv’s businesses and the possibility that integration after the transaction may be more difficult than expected.
More information on these and other factors that may adversely affect PayPal’s operating results, financial condition and outlook, or that may result in actual results materially different from those expressed or implied in forward-looking statements, can be found at PayPal Holdings, Inc. . most recent Form 10-K Annual Report, Form 10-Q Quarterly Reports, Current Form 8-K Reports and Other Submissions to the Securities and Exchange Commission (the “SEC”), and future filings with the SEC.
The forward-looking statements contained in this announcement apply only to the date hereof. PayPal expressly disclaims any obligation or obligation to distribute any updates or amendments to any forward-looking statements herein to reflect any change in expectations in that regard or any change in events, conditions or circumstances on which such statement is based.
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SOURCE PayPal Holdings, Inc.
Related links
http://www.paypal.com