Curv

Curv, Inc. - cryptocurrency startup with a research and development office in,. Tel Aviv Israel

Developments

Curv is the developer of a digital asset security infrastructure that allows cryptocurrency and financial institutions to create digital wallets. The company's security technology allows users to create crypto-financial products that securely transmit, store and manage any digital assets based on a blockchain or digital system for recording transactions.

The decentralized Curv security model uses confidential calculation protocols (MPC/SMPC), which allows you to safely sign transactions in a mathematically proven way.^[1]

History

2021: Purchase of PayPal by the payment system

March 8, 2021 PayPal announced that he had agreed Israeli cryptocurrency startup with Curv to acquire it. The company is engaged in ensuring the secure storage of crypto assets. The terms of the deal with Curv were not disclosed, but its closure is expected in the first half of 2021.^[2] According to Calcalist, PayPal paid $200 to $300 million for the purchase of a startup. A source close to the company says that this amount was slightly less.

Curv manages a cloud service that allows users to access their cryptocurrency wallets. The company allows you to configure complex policies so that crypto assets cannot be displayed without an approval chain. You can also create permission lists to make normal transactions easier.

Curv uses multilateral calculations to process private keys. servers Secrets are generated on cryptographic the company. They change regularly, so if someone gets unauthorized access to the wallet, then they will not be able to access the assets only using the information stored on the device.

Curv works with exchanges, brokers and cash registers, but not with end users.

PayPal said that the Curv team will join the cryptocurrency group within the company. The payment service is gradually launching cryptocurrency products. Previously, he became a partner of Paxos, so that users in the United States can buy, store and sell cryptocurrency from their PayPal account.

The acquisition of Curv is part of our initiative to invest in talent and technology to realize the long-term goal of creating a more affordable financial system, - noted in PayPal

In the near future, the service also plans to allow users to buy and sell goods using cryptocurrencies. The company said it intends to launch cryptocurrency products in other countries and in Venmo, a consumer financial technology application from PayPal.^[3]

Шаблон:Blockchain and Cryptocurrency Topic

Notes