PayPal buys Israeli digital asset security provider Corve

PayPal said on Monday it would buy Israeli-based digital assets insurer Corve, as the payment processor looks to boost support for cryptocurrencies.

This came according to what was reported by the “Nasdaq” website, and the terms of the deal, which is expected to be completed in the first half of a year, were not disclosed.
2021
Curv will be part of PayPal’s recently created unit focused on cryptocurrencies.

PayPal said in October of last year that it would allow customers to buy, sell and hold cryptocurrencies in their online wallets.

The move to acquire Corve comes as cryptocurrencies have surged this year, with increased participation by institutional investors including Tesla and Bank of New York.