PayPal Holdings, Inc. today announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel . In October 2020 PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and ...

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel .

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 recently created a business unit focused on blockchain, crypto and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical expertise to PayPal.

"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," said Jose Fernandez da Ponte , vice president and general manager, blockchain, crypto and digital currencies, PayPal. "During our conversations with Curv's team, we've been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they've built in the last few years. We're excited to welcome the Curv team to PayPal."

Curv was founded in 2018 by CEO Itay Malinger and CTO Dan Yadlin .

"As a pioneer in security infrastructure for digital assets, Curv is proud to be recognized as an innovator and trusted partner to leading financial institutions around the world," said Malinger. "Now, as the adoption of digital assets accelerates, we feel there's no better home than PayPal to continue our journey of innovation. We're excited to join PayPal in expanding the role these assets play in the global economy."

PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the deal were not disclosed.

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com .

About Curv
Curv is a global trusted provider of digital asset security technology that is delivered as a fully scalable, enterprise-grade and compliant cloud service. Curv's multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability and total autonomy over digital assets required to thrive in the digital economy. For more information, visit curv.co .

Forward-Looking Statements
This announcement contains "forward-looking" statements within the meaning of applicable securities laws. 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's and Curv's business and the timing of the closing of the acquisition. Forward-looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "anticipate", expect", "project, "forecast", or "intend", and statements that an event or result "may", "will", "should", "could", or "might" occur or be achieved and any other similar expressions.

Forward-looking statements involve risks and uncertainties which may cause actual results to differ materially from the statements made, and, accordingly, readers should not place undue reliance on forward-looking statements and information. Factors that could cause or contribute to such differences include, but are not limited to, the timing and satisfaction of closing conditions in connection with the transaction, the possibility that the transaction may not close, the reaction to the transaction of Curv's customers and business partners, the reaction of competitors to the transaction, the retention of Curv's employees, PayPal's plans for Curv, economic and political conditions in the global markets in which PayPal and Curv operate, the future growth of PayPal's and Curv's businesses and the possibility that integration following the transaction may be more difficult than expected.

More information about these and other factors that could adversely affect PayPal's results of operations, financial condition and prospects or that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in PayPal Holdings, Inc.'s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (the "SEC"), and its future filings with the SEC.

The forward-looking statements contained in this announcement speak only as of the date hereof.  PayPal expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contacts
Investor Relations
Gabrielle Rabinovitch
grabinovitch@paypal.com

Jesse Kreger
jkreger@paypal.com

Media Relations
Josh Criscoe
jcriscoe@paypal.com

Yael Hager
yhager@paypal.com

Cision View original content to download multimedia: http://www.prnewswire.com/news-releases/paypal-to-acquire-curv-301242347.html

SOURCE PayPal Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

Intuit Executive Vice President Greg Johnson to Present at the Wells Fargo TMT Virtual Summit

INTUit (NASDAQ: INTU), the global technology platform that makes TurboTax , QuickBooks , Mint , Credit Karma , and Mailchimp , announced today that Greg Johnson, executive vice president and general manager of Intuit's Consumer Group, will participate in a fireside chat at the Wells Fargo TMT Virtual Summit on Tuesday, November 30.

The fireside chat will begin at 2:20 p.m. PDT/5:20 p.m. EDT and will be available live via audio webcast on Intuit's investor relations website at https://investors.intuit.com/events-and-presentations/default.aspx . A replay of the webcast will be available approximately 24 hours after the presentation ends.

Keep reading... Show less

Intuit CFO Michelle Clatterbuck to Present at the Nasdaq Virtual Investor Conference

INTUit (NASDAQ: INTU), the global technology platform that makes TurboTax , QuickBooks , Mint , Credit Karma , and Mailchimp , announced today that Michelle Clatterbuck, chief financial officer at Intuit, will participate in a fireside chat at the Nasdaq Virtual Investor Conference on Tuesday, November 30.

The fireside chat will begin at 9:00 a.m. PDT/12:00 p.m. EDT and will be available live via audio webcast on Intuit's investor relations website at https://investors.intuit.com/events-and-presentations/default.aspx . A replay of the webcast will be available approximately 24 hours after the presentation ends.

Keep reading... Show less

FIS Tops Chartis' Risk and Compliance Technology Ranking for Seven Years in a Row

Key facts:

  • For seven straight years, FIS places first in the Chartis RiskTech100 ® , an annual ranking of the world's top 100 providers of risk and compliance technology.
  • FIS also wins in five categories: Functionality, Market Presence, Insurance, Trading & Capital Markets, and Front Office Risk Management.

Financial technology leader FIS ® (NYSE: FIS) today announced that it has earned the number one spot in the Chartis RiskTech100 ® for the seventh straight year. Compiled by leading research and analysis firm Chartis Research, the Chartis RiskTech100 ® is an annual ranking of the world's top 100 providers of risk and compliance technology.

Keep reading... Show less
Bitcoin Well Announces Addition of Over 100 New Bitcoin ATM Machines as Part of an Expanding Partnership with RapidCash ATM

Bitcoin Well Announces Addition of Over 100 New Bitcoin ATM Machines as Part of an Expanding Partnership with RapidCash ATM

Bitcoin Well (the "Company" or "BTCW"), a technology company building and utilizing products that offer safe and easy ways to buy, sell and use bitcoin, is pleased to announce the growth of our partnership with RapidCash ATM Ltd. ("RCAL"), a partnership offering further benefits following our acquisition of Ghostlab Inc. ("Ghostlab"), which closed on September 13, 2021. After initially installing the Ghostlab software on its first ATM in December of 2020, RCAL subsequently deployed a total of 43 ATM kiosks with our ghostATM software (proprietary Bitcoin ATM software), the majority of which were recently installed. These ATM kiosks have since generated Bitcoin sales of over $565,000 for the RCAL Bitcoin ATM Partner network, which is operated by Bitcoin Well.

Keep reading... Show less

Intuit Reports Strong First Quarter Results and Raises Full Year Revenue Guidance Reflecting Early Momentum in the Year and the Acquisition of Mailchimp

INTUit Inc. (Nasdaq: INTU), the global technology platform that makes TurboTax, QuickBooks, Mint, Credit Karma and Mailchimp, announced financial results for the first quarter of fiscal 2022, which ended Oct. 31. INTUit grew total revenue to $2.0 billion, up from $1.3 billion the prior year, including the addition of Credit Karma. With the addition of Mailchimp starting Nov. 1 and the company's strong momentum, INTUit raised its fiscal year 2022 revenue guidance to 26 to 28 percent growth. Excluding Mailchimp, the company expects revenue growth of 18 to 20 percent, up from prior guidance of 15 to 16 percent.

"We are off to a strong start in fiscal year 2022, delivering on our strategy of becoming an AI-driven expert platform powering the prosperity of consumers and small businesses," said Sasan Goodarzi, Intuit's chief executive officer. "We continue to see strong momentum and proof that our Big Bets are further positioning us for durable growth in the future, and we're delighted that Mailchimp has joined Intuit."

Keep reading... Show less

Real Matters Reports Fourth Quarter and Fiscal 2021 Financial Results and Intention to Amend its Normal Course Issuer Bid

(all amounts are expressed in millions of U.S. dollars, excluding per share amounts and unless otherwise stated)

Real Matters Inc. (TSX: REAL) ("Real Matters" or the "Company"), a leading network management services platform for the mortgage and insurance industries, today announced its financial results for the fourth quarter and fiscal year ended September 30, 2021.

Keep reading... Show less

Top News

Related News