Huge investment for crypto money from Paypal

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Cryptocurrencies continue to rise. Recently, PayPal announced in a statement that users in the USA can buy and sell cryptocurrencies through the platform. This situation led to the rise of all cryptocurrencies, especially Bitcoin and Etherium. The company has taken steps for extra security measures after this step. Paypal will buy a company to secure cryptocurrencies.

Paypal buys crypto security firm

The company announced Monday that it will acquire a Tel Aviv-based security firm. This company, called Curv, focuses specifically on the protection of digital assets. Thanks to this purchase, PayPal will protect their cryptocurrencies more effectively. Considering that various exchanges have been the target of cyber attacks in the past and serious losses have been incurred, this seems like a very correct move.

Details of the agreement to be made are not yet clear. However, information shows that the deal will be between $ 300 and 500 million. “We are investing in the future and technology for a more advanced financial system,” said Jose Fernandez, Vice President of PayPal. The deal is expected to be completed in the first half of 20201.

The company’s cryptocurrency exchange currently only allows users to buy and sell cryptocurrencies. Users cannot use this money for shopping and trading in any way. However, the company aims to change this in the upcoming period. PayPal will soon allow customers to shop using these cryptocurrencies. Curv aims to make things safer, especially in this area.