PYPL PayPal Holdings Inc

By Robb M. Stewart

Online payments company PayPal Holdings Inc. said Monday it has agreed to buy Tel Aviv-based Curv in a move to expand and accelerate its push to support cryptocurrencies and digital assets.

Financial terms for the deal weren't disclosed and PayPal said it expects to complete the buy in the first half of the year.

Curv, founded in 2018 by Chief Executive Itay Malinger and Chief Technology Officer Dan Yadlin, provides digital asset-security technology.

"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 of blockchain, crypto and digital currencies at PayPal.

In early trading Monday, PayPal's shares were 1.1% lower at $236.43. They have risen 1% in 2021, and have more than doubled over the past 12 months.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 08, 2021 10:09 ET (15:09 GMT)

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