Toyota Industries Buyout Faces Resistance as Elliott Rejects Higher Offer 
Anthropic Appoints Former Microsoft Executive Irina Ghose to Lead India Expansion 
U.S. Lawmakers Raise Alarm Over Trump Approval of Nvidia AI Chip Sales to China 
Elon Musk Seeks $134 Billion in Lawsuit Against OpenAI and Microsoft Over Alleged Wrongful Gains 
Taiwan Issues Arrest Warrant for OnePlus CEO Over Alleged Illegal Recruitment Activities 
Microsoft Strikes Landmark Soil Carbon Credit Deal With Indigo Carbon to Boost Carbon-Negative Goal 
Federal Judge Clears Way for Jury Trial in Elon Musk’s Fraud Lawsuit Against OpenAI and Microsoft 
Jamie Dimon Signals Possible Five More Years as JPMorgan CEO Amid Ongoing Succession Speculation 
China’s AI Models Narrow the Gap With the West, Says Google DeepMind CEO 
Boeing Reaches Tentative Labor Deal With SPEEA Workers After Spirit AeroSystems Acquisition 
xAI Restricts Grok Image Editing After Sexualized AI Images Trigger Global Scrutiny 
Publishers Seek to Join Lawsuit Against Google Over Alleged AI Copyright Infringement 
China Considers New Rules to Limit Purchases of Foreign AI Chips Amid Growing Demand 
BYD Shares Rise in Hong Kong on Reports of Battery Supply Talks With Ford 
TSMC Set to Post Record Q4 Profit as AI Chip Demand Accelerates 
White House Pressures PJM to Act as Data Center Energy Demand Threatens Grid Reliability 
PayPal is preparing for the acquisition of cryptocurrency security firm called Curv. The move is said to be part of the money transfer and payments system’s firm aim to get into cryptocurrency or digital tokens.
The new acquisition to help Paypal’s entrance to digital tokens
The intention to acquire Curv was announced by PayPal on Monday, March 8. As per CNBC, the deal is worth a lot less than expected as the companies are only signing a less than $200 million deal. This information was revealed to the media outlet by a person familiar with the subject.
It was added that the negotiation would end very soon, and it is expected to be sealed off within the first half of this year. As the acquisition was revealed, it was reported that PayPal’s shares went down by more than 1 percent on Monday.
The purchase comes just several months after PayPal shared about its plans and commitment to the fast-developing sector. The company also said that the transition to tokens is surely inevitable in this era.
As of this time, the American firm already set up new business segments to accommodate crypto, blockchain, and digital currencies since it is involved in the money transfer and payment trade.
"The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system," PayPal’s vice president and general manager for blockchain, crypto, and digital currencies, Jose Fernandez da Ponte, said via press release. “We're excited to welcome the Curv team to PayPal."
About Curv
The company was founded only in 2018 by CEO Itay Malinger and CTO Dan Yadlin. Its main offering is to provide businesses with digital asset security technology that is delivered as a cloud service. With its acquisition, PayPal stated that it would help Curv to expand further by fully supporting its digital assets and cryptocurrencies.
Malinger said that they are also proud to be part of PayPal now as the result of the acquisition deal. "Now, as the adoption of digital assets accelerates, we feel there's no better home than PayPal to continue our journey of innovation,” he said. Meanwhile, the financial terms of the sale were not divulged.
