PayPal’s interest in cryptocurrency may be considered one of the catalysts for the bull run cryptocurrencies have been on for the past few months.
In contrast to other companies that have gotten into cryptocurrencies, PayPal have mostly stayed out of the limelight regarding their moves in the crypto world – an approach quite different to Square’s positive statements regarding crypto as a whole, or Elon Musk taking a marked interest in Shiba Inus and tweeting saucy emojis in response to Peter Schiff’s disparaging comments.
Price Of Acquisition Rumoured To Be In The Hundreds Of Millions
Around 4 months ago, PayPal was rumoured to be in talks with BitGo, looking to buy them out for around $750 million. However, it seems the talks led nowhere – and PayPal appear to have done their shopping elsewhere.
Looking for a company that deals with cryptocurrencies in large quantities, PayPal are now apparently in talks with Curv, according to several unofficial sources.
While Calcalist – an Israeli news outlet – claims the discussed price is in the $200-300 million range, another anonymous source has stated the figure is actually closer to $500 million.
“PayPal is buying Curv for $500 million. From where I’m hearing it, I’m pretty sure it’s true.”
Another source stated that the move is logical, going by PayPal’s previous well-planned acquisitions, such as that of Venmo. However, any good business has a wealth of options – and the move into crypto is just another way of diversifying the companies’ business.
Neither Curv nor PayPal have released any statement regarding the potential business deal.
For the moment, PayPal is still offering purchases of cryptocurrency in the USA – and is planning to do the same in the UK, albeit through the third-party firm Paxos.
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