As sources state Fintech PayPal has taken the initiative to buy Curv, a technology-based Israel Company well known to store cryptocurrency in a secured way. The purchasing amount is estimated to be $500 million however still people doubt it to be true as no person from PayPal or Curv has displayed the news.
The statement may be a fact as several people in the Crypto Currency arena have already stated that PayPal seeks to buy Curv as it is much interested to reach the height of prosperity in the world of Crypto. It isn’t any new venture for PayPal as it has already partnered with New York-based Paxos for the convenience usage of its clients using cryptocurrency.
It is actually software developed to use multiple cryptocurrencies to generate an automated market centralizing its functions to stabilizing cryptocurrency assets known as stablecoins. It helps customers of the firm to trade in cryptocurrency at the best possible low price to gain lower fee cost. In simple words, it can be explained that the firm functions by providing total security over digital assets.
The company was founded in the year 2018 to build a crypto custodian firm that strives to promote a secure digital finance system. Curve utilizes multi-party computation for providing full crypto asset security. The whole pattern of security revolves around mathematical patterns and code to keep funds always safe. Having them with you as a partner, you can freely trade in cryptocurrency providing full security to your clients. Hence, no doubt PayPal, a digital medium of payment wants to link with Curv firm to attract more customers.
Curv makes it easier to transact asset transfers and to secure blockchains democratise information. Once you join Curv there won’t be any worries over the insecurity of single-point failure of private keys that manages all digital assets. PayPal with the assistance of Curv will surely promote a more inclusive financial system favoured by their millions of clients worldwide.
PayPal Holdings, Inc is an American based company providing an online payment platform for its customers dwelling in many countries. The company acts as a third party to transact digital payments processed between buyers and vendors. You can say that PayPal functions as a payment processor providing an easy payment system promising full security. That is the prime reason PayPal has always been striving ahead in the world of digital payment.
Earlier the payment company has approached BitGo ready to handover $750million but unluckily the deal never finalised. Now, it has successfully purchased Curve to expand and secure payment of cryptocurrency transactions and digital assets. It will help them to step ahead of its other giant payment competitors in providing a more secured financial transactions system.
PayPal is highly appreciating Curv staff member technical talent and the way they bring in innovative technology to secure digital assets of all kinds with ease. PayPal buying Paxos last year was an indication that the highest-ranking payment medium is ready to step into the arena of cryptocurrency to begin a new transaction.