Curv May Soon be acquired by PayPal
Now that the cryptocurrency industry has experienced all-time highs and is somewhat stable, the major financial institutions have started making their moves in the sector. This time, it is going to be the institution that is one of the major reasons why the crypto-sector managed to gain so much adoption in the first place.
If it weren’t for PayPal, Bitcoin (BTC) would still be below the $1 trillion market capitalization and would still be around $18k-$19k per BTC mark. It was PayPal that announced the integration of Bitcoin (BTC) on its platform, which triggered a huge surge in the Bitcoin (BTC) sector.
As BTC continued to grow and gained more mainstream adoption, investors also started investing in altcoins. This was mainly because the majority of the investors did not want to have the feeling of being left out from the crypto-benefits.
After the initial announcement made by PayPal, the price and market capitalization of the entire crypto-verse as well as the majority of the cryptocurrencies went sky-high.
Since then, the cryptocurrency industry has been flying high without showing any signs of slowing down any time soon.
After observing a huge amount of success from the cryptocurrency sector, PayPal has now decided to make a new move in the crypto-sector. This time, the firm is deciding to take another step more inside the cryptocurrency sector.
It was recently announced by PayPal that it was in the process of developing a cryptocurrency PayPal application. The focus of the PayPal application was to provide users with full access to cryptocurrency sales, purchases, and trades through their smartphones.
This time, PayPal has revealed that it is going to hit another sector in the crypto-verse by making a huge investment. The PayPal sources have revealed that the firm is currently in the process of purchasing a startup in the cryptocurrency sector.
The firm revealed that the platform it is planning to acquire is Curve, which is known for being a prominent cryptocurrency storage platform. The reports surrounding the matter suggest that PayPal is planning to buy Curv for a whopping figure of $500 million.
Apart from providing a cryptocurrency storage facility, the firm is also focused on providing solutions for cryptocurrency custody in the security sector.
The sources have revealed that for now, both firms are in the discussion phase and are deciding what their next move is going to be. If all goes well then the cryptocurrency and PayPal following would see PayPal buy out Curv in the process.
Despite the speculations that the company will be acquired in $500 million, there are inside sources providing different information. It has been revealed by some of the team members at Curv that the company was expecting it would be given a proposal of $200 or $300 million from PayPal.