At the October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, cryptography and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical knowledge to PayPal.
“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 the Curv team, we were impressed by their technical talent, entrepreneurial spirit and the reasoning behind the technology they have developed in recent years. We are excited to welcome the Curv team at PayPal. “
Curv was founded in 2018 by the CEO Itay Malinger and CTO Dan Yadlin.
“As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovative and reliable partner of leading financial institutions worldwide,” said Malinger. “Now, as the adoption of digital assets accelerates, we feel that there is no better home than PayPal to continue our innovation journey. We are excited to join PayPal in expanding the role that these assets play in the global economy. “
PayPal expects to complete the acquisition in the first half of 2021. The financial terms of the deal have not been released.
About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. Leveraging technology to make financial services and commerce more convenient, accessible and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
About Curv
Curv is a trusted global provider of digital asset security technology that is delivered as a compatible, enterprise-class and fully scalable cloud service. Curv’s multiparty computing (MPC) technology simultaneously provides institutions with protection, instant availability and full autonomy over the 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 accordance with applicable securities 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 the PayPal and Curv businesses and the timing of the closing of the acquisition. Forward-looking statements can be identified by words such as “seek”, “believe”, “plan”, “estimate”, “anticipate”, expect “,” project, “predict” or “intend”, and statements that an event or result “can”, “will”, “should”, “could” or “could” occur or be achieved and any other similar expressions.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from statements made and, therefore, readers should not place undue reliance on forward-looking statements 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 in connection with the transaction, the possibility that the transaction will not be closed, the reaction to the transaction from customers and partners Curv’s business, the reaction of competitors to the transaction, the retention of Curv’s employees, PayPal’s plans for Curv, the economic and political conditions in the global markets where PayPal and Curv operate, the future growth of the company’s business PayPal and Curv and the possibility of integration after the transaction can be more difficult than expected.
More information about these and other factors that could adversely affect PayPal’s results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found at PayPal Holdings, Inc. ‘ s Most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the “SEC”), and their future filings with the SEC.
The forward-looking statements contained in this announcement are only valid as of the date of this document. PayPal expressly disclaims any obligation or commitment to disclose any updates or revisions to any forward-looking statements contained in this document to reflect any change in expectations regarding them or any change in the events, conditions or circumstances on which such statement is based.
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SOURCE PayPal Holdings, Inc.
Related Links
http://www.paypal.com