PayPal is acquiring crypto security company Curv for less than $200 million

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PayPal is acquiring crypto security firm Curv as part of its push into digital tokens, the company announced Monday.

The deal is worth less than $200 million, a person familiar with the matter told CNBC. It's expected to close in the first half of 2021. Shares of PayPal were down more than 1% Monday morning.

Founded in 2018, Curv provides companies with digital asset security technology that's delivered as a cloud service. PayPal said the deal will help "accelerate and expand" its supporting of cryptocurrencies and digital assets. The deal comes just a few months after the company affirmed its commitment to the fast-growing segment, saying in October the shift to tokens is "." PayPal also recently created a new business unit focused on blockchain, crypto and digital currencies. Curv will join that newly formed group, PayPal said.

"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," PayPal's Jose Fernandez da Ponte said in a statement.

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Beautiful 😍

Wow, truly a positive step forward for cryptocurrencies!

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Long $Paypal

cnbc make sure to buy some $bifi.

$algo Algorand and curv!!!!!! Wow great press going mainstream today.

Sweet, everyone wants a piece of cryptocurrency. And now this is a plus because it comes with security and it's paypal.

The elite

Wait. Crypto needs added security? 😳

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