PayPal To Acquire Cryptocurrency Security Startup Curv

PayPal has announced that it plans to acquire Curv, a cryptocurrency startup based in Tel Aviv, Israel. TechCrunch reports: Curv is a cryptocurrency security company that helps you store your crypto assets securely. The company operates a cloud-based service that lets you access your crypto wallets without any hardware device. Curv also lets you set up sophisticated policies so that the new intern cannot withdraw crypto assets without some sort of approval chain. Similarly, you can create allow lists so that regular transactions can go through more easily.

Behind the scenes, Curv uses multi-party computation to handle private keys. When you create a wallet, cryptographic secrets are generated on your device and on Curv's servers. Whenever you're trying to initiate a transaction, multiple secrets are used to generate a full public and private key. Secrets are rotated regularly and you can't do anything with just one secret. If somebody steals an unsecured laptop, a hacker cannot access crypto funds with the information stored on this device alone.

PayPal says that the Curv team will join the cryptocurrency group within PayPal. Terms of the deal are undisclosed and the transaction should close at some point during the first half of 2021. Calcalist reported that PayPal was paying between $200 million and $300 million for the acquisition. A person close to the company says that the transaction was under $200 million. I guess we'll find out what happened exactly in the next earnings release.

Sounds like Snake-Oil

[gweihir]

"Cloud" and "no hardware" on one side and "secure" on the other do not go together. Apparently it is again a good time in IT to sell well-camouflaged bad ideas for a lot of money to the clueless.

Re:A summary: BTC Gold USD

[Tokolosh]

Let's get this out of the way, so that the discussion can proceed:

Tulips
Ponzi
Not backed by anything
Money Laundering
Power consumption
I am Satoshi
Yellen/SEC/Federal Reserve
I predicted you will lose all your money but now must pay taxes on your gains

Re:A summary: BTC > Gold > USD

[Anonymous Coward]

People writing this kind of things are unable to understand why Gold was money for 1000+ years. If you can't understand the concept of money, and the concept of sound money, there is no point to go further.

dog shit

[awwshit]

Paypal is dog shit.

Paypal

[Arthur, KBE]

has been buying crypto-related businesses for the last 14 years. So why cant I use crypto on Paypal, and why do they actively lobby against crypto currency use? What is their ultimate motivation? Why are they buying these businesses and why don't they want me, as a customer, from using crypto currency? Why don't they explain any of this?

The Gresham's law

[Anonymous Coward]

You should read the Gresham's law.

1. BTC
BTC > Gold; This means the Gresham's law applies (bad money drives out good). You will never use BTC (or Gold) for common purchases.

2. Altcoins (Cryptos != Bitcoin)
Gold > USD > ... > pyrite > (ETH|XRP|Altcoins)
The Gresham's law doesn't apply. Anyway, the price will slowly go to zero in BTC terms (You are incentivized to dump these tokens over time).

Getting money out

[RegistrationIsDumb83]

A financial product that makes it more difficult to withdraw your own money from it? No wonder PayPal wants it -- that's been their own MO for years. Paypal needs to be regulated like a bank so they can't keep arbitrarily freezing/stealing people's balances.

Re:

[awwshit]

Companies like Paypal are unaccountable, which makes them dog shit. You stepped in dog shit and didn't like it. Remember how that feels and don't step in dog shit again. Getting dog shit on your customers only goes so far. They are grasping at straws here trying to be relevant in 2021.

Too bad its cryptocurrency

[nickwinlund77]

Other online frameworks could be mitigated and handled using those protocols and guidelines. Cryptocurrency use will just waste computer energy and lose money.

There goes the neighborhood

[Otis B. Dilroy III]

End comment

This is just great news

[fantas]

This is just great news. I myself do not use paypal very often, but I use this payment system for donations. It would be very convenient to accept crypto as well. Especially considering that I sometimes play on fairspin and I would like to withdraw the money I won in crypto sometimes. Paypal would be the most convenient for this, I think. In any case, it is definitely more convenient than webmoney. And how soon is it planned to introduce this feature? Or are they just considering a possible option?