PayPal is reportedly looking to acquire cryptocurrency firm Curv, consolidating the payment provider's footprint in the industry after it enabled support for various blockchain assets and currencies in 2020.
The purchase, according to reports, is valued at between $200m and $500m, and comes after PayPal fell short of acquiring BitGo for $750m.
Speaking to CoinDesk, an anonymous source confirmed the story, which was then reported by Calcalist, an Israeli media organisation.
The CoinDesk source said that PayPal was constantly looking to consolidate its crypto standing with acquisitions such as Venmo. The company is now allowing up to $15,000 in crypto purchases owing to the strong demand from consumers.
As to Curv, the company generated $23m in 2020 and is focused on institutional investors who are interested in Bitcoin. The company has working relationships with Coinbase Ventures, Digital Currency Group and others.
Should PayPal successfully acquire Curv, the payment processor would have a fair stake in crypto. As crypto adoption continues to soar, crypto gaming portals, such as Bitcasino, BitStarz and 1xBit are some of the best places to play yourself.