Payments giant PayPal is set to acquire crypto-custody infrastructure provider Curv. CoinDesk reports, citing the Israeli publication Calcalist.
“PayPal has previously made several major acquisitions, such as Venmo. Now the company intends to own something related to crypto,” said one of the sources familiar with the situation.
The deal is valued at between $200 million and $500 million, according to various estimates.
Another source noted that the decision to acquire Curv was taken after last year’s breakdown of talks with custodian BitGo.
In July last year Curv raised $23 million in a Series A funding round from Commerzbank Group, Coinbase Ventures and Digital Currency Group.
In October a further round of financing for Curv took place, led by investment giant Franklin Templeton.
In November, PayPal launched bitcoin buying and selling for US customers.
In February, the company stated that it was not considering placing reserves in the leading cryptocurrency.
Subscribe to ForkLog’s channel on YouTube!