Paypal to buy crypto security firm Curv

PayPal has agreed to buy Tel Aviv-based Curv, a provider of cloud-based infrastructure for digital asset security, for an undisclosed sum.

The online payments company said the acquisition will accelerate and expand its initiatives to support cryptocurrencies and digital assets.

Jose Fernandez da Ponte, vice president and general manager of blockchain, crypto and digital currencies at PayPal, said: "The acquisition of Curv is part of our effort to invest in the talent and technology to realise our vision for a more inclusive financial system.

"During our conversations with Curv's team, we've been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they've built in the last few years."

Curv CEO Italy Malinger said: "As a pioneer in security infrastructure for digital assets, Curv is proud to be recognised as an innovator and trusted partner to leading financial institutions around the world.

"Now, as the adoption of digital assets accelerates, we feel there's no better home than PayPal to continue our journey of innovation."

No financial details were disclosed.