PayPal Is in Talks to Acquire Cryptocurrency Storage Firm Curv
PayPal Holdings Inc. is in talks to acquire the startup Curv, which helps companies transfer and store digital currencies.
The talks are early and could still fall apart, according to a person familiar with the matter, who asked not to be identified discussing internal deliberations.
PayPal has been seeking to expand cryptocurrency offerings after the payments giant began providing customers the ability to buy, sell and hold certain digital currencies in its wallet. The firm plans to add those capabilities to its Venmo wallet in the coming months.
New York-based Curv was founded in 2018. The firm says its products are used by dozens of customers including the investment firm Franklin Templeton.
PayPal shares slipped 0.5% to $272.22 at 12:31 p.m. in New York after CoinDesk reported earlier on the talks. Representatives for Curv and PayPal declined to comment.