Curv is a crypto startup that focuses on Cryptocurrency storage security providers, at this point PayPal is probably in the negotiation stage to buy from Curv.
Several reports are circulating, PayPal is interested in acquiring this Curv company, the conversation between the two teams of this big company is an open secret in the global technology scene, although it may no longer be an open secret, which is considering how fast this spread, even though the two teams are already took a stance to be careful about the misinformation of these two companies.
Local information sources are circulating that the deal will cost around $ 500 million, more than the expectations of the Curv development team, which they hope to make between $ 200 million and $ 300 million in company sales.
What Makes Curv So Important?
Curv company is a company that develops encryption technology based on multi-party computing, this encryption will be of great help to secure digital assets. This encryption can create a secure transfer storage space for the management of any digital asset and on any blockchain. This platform from Curv allows virtual wallets to generate private keys at multiple points simultaneously, and can distribute them across the cloud and client space, eliminating the possibility of failure.
Due to Curv's encryption system, it makes sense that PayPal consider this acquisition to be of great benefit to PayPal, this allows for the development and possibly increased security and trust for users in its crypto service.
It could be that PayPal had a genuine cryptocurrency custody solution that would reduce costs in the long run, because so far no company has publicly acknowledged or denied this.
PayPal's Increasing Interest in Cryptocurrency
So far, PayPal has seen crypto only as an institutional investment, clarity of regulations, and increased prices for digital assets.
PayPal started a partnership with Paxos to provide its loyal customers with exposure to the prices of Bitcoin, Bitcoin Cash, Ethereum and Litecoin in March 2020 when the devastating pandemic started.
It aims to carry out safe, easy and legal cryptocurrency operations. This initiative went smoothly making PayPal a huge success, and the price of Bitcoin had risen to an all-time high, a study conducted by Mizuho Securities found that by 2020, one-fifth of PayPal users have exposure to Bitcoin (BTC) and as much as 65% PayPal users are attracted to Crypto currencies.
Analysis of jacking up the target share price of PayPal (PYPL) above the current quote based on the increase in Bitcoin (BTC). Bitcoin ripped in part because Square and PayPal bought a lot to facilitate their customers' trading.
PayPal CEO, Dan Schulman, said during his official press release, that digital currency users are inevitable, and that governments need to start reviewing and adapting their policies to innovations in this modern era:
"The shift to a form of digital currency is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and robustness of the payment system; and the government's ability to disburse funds to citizens quickly"
A report leaked which contained information that PayPal was trying to acquire BitGo, but the talks have never shed any light or produced results.
If this time PayPal succeeds in acquiring Curv, the quality of cryptocurrency services from PayPal will be able to increase rapidly, not only to appreciate the value of shares of the company but also to prove the validity of PayPal's strategy in investing in cryptocurrency goods and services rather than just buying crypto for speculation or just just to save the value.
Read more about cryptocurrencies and blockchain here @khezcute
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Entry of paypal into crypto currency is a really big development and there would be many speculations and many news coming from the company in the near future.
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yes I agree, and of course this will be a big wave for crypto currency
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