In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company has recently created a business unit focused on blockchain, cryptography and digital currencies. Curv will join the newly formed group, with a strong team of technologists adding technical expertise to PayPal.
“Acquiring Curv is part of our effort to invest in talent and technology to realize our vision of a more inclusive financial system,” he said. Jose Fernandez da Ponte, vice president and CEO, blockchain, cryptography and digital currencies, PayPal. “During our conversations with the Curv team, we have been impressed by their technical talent, entrepreneurial spirit and the thinking behind the technology they have built in recent years. We are delighted to welcome the Curv team. Curve to PayPal “.
Curv was founded in 2018 by the CEO Father Malinger and CTO And Yadlin.
“As a pioneer in security infrastructures for digital assets, Curv is proud to be recognized as an innovative and trusted collaborator for leading financial institutions around the world,” Malinger said. “Now, as the adoption of digital assets accelerates, we believe there is no better home than PayPal to continue our journey of innovation. We are delighted to join PayPal to expand the role that these have. assets in the world economy “.
PayPal expects to complete the acquisition in the first half of 2021. The financial terms of the deal were not disclosed.
About PayPal
PayPal has been at the forefront of the digital payments revolution for over 20 years. Leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform enables more than 375 million consumers and merchants in more than 200 markets to unite and thrive in the global economy. For more information, visit paypal.com.
As for Curv
Curv is a trusted global provider of digital asset security technology that delivers as a fully scalable, enterprise-grade, and compatible cloud service. Curv’s multiparty computing (MPC) technology simultaneously provides institutions with protection, instant availability, and total autonomy over the digital assets needed to thrive in the digital economy. For more information, visit curv.co.
Prospective statements
This announcement contains “forward-looking” statements within the meaning of applicable securities laws. The 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 and Curv’s business and the timing of the closing of the acquisition. Prospective statements can be identified by words such as “seek”, “believe”, “plan”, “love”, “anticipate”, expect “,” project “,” predict “or” pretend “and statements that event or result” can “,” will be “,” should “,” could “or” could “occur or be achieved and any other similar expression.
Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from statements made and, as a result, readers should not overly rely on forward-looking statements and information. Factors that may cause or contribute to these differences include, but are not limited to, the timing and satisfaction of closing conditions in relation to the transaction, the possibility that the transaction will not close, the reaction to the customer transaction, and Curv’s business partners, competitors ’reaction to the transaction, Curv’s employee retention, PayPal’s plans for Curv, economic and political conditions in the global markets in which PayPal and Curv operate, the future growth of PayPal and Curv and the possibility that the transaction may be more difficult than expected.
A PayPal Holdings, Inc. more information can be found on these and other factors that could adversely affect PayPal’s results of operations, financial condition and financial outlook or that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other applications submitted to the Securities and Exchange Commission (the “SEC”) and their submissions futures in the SEC.
The forward-looking statements contained in this notice refer only to the date of this document. PayPal expressly disclaims any obligation or commitment to disclose any updates or revisions to any forward-looking statements contained in this document to reflect any change in expectations in this regard or any change in the events, conditions or circumstances on which such statement is based.
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SOURCES PayPal Holdings, Inc.
Related links
http://www.paypal.com