In October 2020PayPal announced its commitment to shape the role that digital currencies will play in the future of financial services and commerce. To drive continued growth and innovation in this field, the company recently established a business unit focusing on blockchain, crypto and digital currencies. Curv will join the newly formed group, with a strong team of technologists adding technical expertise to PayPal.
“The acquisition of Curv is part of our efforts to invest in the talent and technology to realize our vision for a more inclusive financial system,” said Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto and digital currencies, PayPal. “During our conversations with the Curv team, we have been impressed by their technical talent, entrepreneurial spirit and the way they have developed with the technology over the years. We are delighted to welcome the Curv team to PayPal.”
Curv was founded in 2018 by CEO Father Malinger and CTO And Yadlin
“As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner of leading financial institutions around the world,” said Malinger. “As adoption of digital assets accelerates, we feel there is no better place than PayPal to continue our innovation journey. We are excited to partner with PayPal to expand the role these assets play in the global economy.”
PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the deal have not been disclosed.
About PayPal
PayPal has been at the forefront of the digital payments revolution for over 20 years. Using technology to make financial services and commerce easier, more affordable, and more secure, the PayPal platform enables more than 375 million consumers and merchants in more than 200 markets to participate and thrive in the global economy. Visit paypal.com for more information.
About Curv
Curv is a trusted global provider of digital asset security technology that comes as a fully scalable, enterprise and compliant cloud service. Curv’s multi-party computation (MPC) technology simultaneously provides institutions with the protection, immediate availability and total autonomy over digital assets needed to thrive in the digital economy. Visit curv.co. For more information.
Forward-Looking Statements
This announcement contains “forward-looking” statements within the meaning of 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 PayPal’s and Curv’s businesses and the timing of the closing of the acquisition. Forward-looking statements may be identified by words such as’ seek ‘,’ believe ‘,’ plan ‘,’ estimate ‘,’ anticipate ‘, expect’, ‘project’, ‘predict’ or ‘intend’, and statements that indicate an event. or result “may”, “will”, “would”, “could”, or “could” occur or be achieved and other similar expressions.
Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. Factors that could cause or contribute to such differences include, but are not limited to, the timing and fulfillment of the closing conditions associated with the transaction, the possibility of the transaction not being finalized, the response to the transaction from customers and Curv business partners. , competitors’ response to the transaction, the retention of Curv’s employees, PayPal’s plans for Curv, economic and political conditions in the global markets in which PayPal and Curv operate, the future growth of the PayPal and Curv businesses and the possibility that post-transaction integration may 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 could cause actual results to differ materially from those expressed or implied in forward-looking statements, can be found in the publication of PayPal Holdings, Inc. 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 future filings with the SEC.
The forward-looking statements in this announcement speak only as of their date. PayPal expressly disclaims any obligation or undertaking to distribute updates or revisions to forward-looking statements in this document to reflect a change in expectations with respect thereto or any change in events, circumstances or circumstances on which such statement is based .
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SOURCE PayPal Holdings, Inc.
Related Links
http://www.paypal.com