PALO ALTO, Calif.—PayPal is leaving no stone unturned to bolster its presence in the cryptocurrency market, according to one report.
PayPal has agreed to acquire Curv, which is a Tel Aviv-based digital asset security technology provider, in a bid to bolster its cryptocurrency efforts, Yahoo Finance reported.
The buyout is expected to be completed by the first half of 2021.
Post-acquisition, Curv will join PayPal’s newly created business unit dedicated to blockchain, cryptocurrency, and digital currencies.
“The latest move ups PayPal’s ante against its strong contender, Square, which is also putting strong efforts to expand its footprint in the Bitcoin space,” Yahoo Finance said.