media: PayPal prepares to take over a cryptocurrency firm

Bloomberg publication with reference to its own sources reports, that PayPal payment giant explores the market in search of a cryptocurrency company for purchase.

According to sources of the publication, Negotiations are underway between the payment company and the castodial company BitGo. The amount is still unknown, which is offered for BitGo, However, the company is evaluated in $170 million.

“Negotiations only in the initial stage, and PayPal may well switch to another company ", - writes Bloomberg.

PayPal representatives refused to comment on this information, stated, that rumors and speculations comment on. However, the acquisition of Bitgo would be a very logical step for PayPal.

Recently, the company announced the ambulance of cryptocurrencies on its platform and in the Venm Appendix. In such a case, the experience of Bitgo in storing digital assets will be very useful. Besides, PayPal can start its own stablecoin, and Bitgo solutions can be used for the PayPal cryptocurrency ecosystem.