International payment transfer giant PayPal is reportedly buying the Curv cryptocurrency custody firm, with price estimates ranging between $200 to $500 million. Curv is an Israeli crypto custody firm. The Curv acquisition is the latest in a series of moves indicating PayPal’s interest in cryptocurrencies. The payment processing giant enabled crypto purchases in Q4 2020, raising the buy limits from $10,000 to $15,000 in November due to unforeseen demand.
PayPal announces to extend crypto buying and selling to the United Kingdom.
PayPal recently announced that it would extend crypto buying and selling to the United Kingdom and Venmo users in 2021. PayPal’s crypto offering has been somewhat limited, with users having no control over their private keys. It will be interesting to see what use case the company has for Curv, a custody firm that handles digital assets’ storage. The Israeli crypto custody firm raised $23 million last year to continue serving institutional demand for Bitcoin, with Coinbase Ventures and Digital Currency Group among the investors.
The crypto industry continues to get mainstream exposure.
The recent winning rally of bitcoin and other cryptocurrencies has helped the crypto industry gain widespread exposure in general. Tesla’s $1.5 billion investment in the leading cryptocurrency created a buzz around the world as it sent the price of bitcoin into a frenzy. Since then, several major companies like Mastercard and Twitter have expressed interest in holding cryptocurrencies. Tesla also announced its plans to accept bitcoin as a payment method. With the mainstream exposure, the crypto industry has also attracted scrutiny from regulators around the world. The Indian government is planning to ban all cryptocurrencies and prepare a framework for a digital rupee.