PayPal to Buy BitGo For Undisclosed Amount
According to Bloomberg, the Bitcoin custodian is just one of several crypto-centric companies the payments platform is looking to acquire.
Those familiar with the ongoing negotiations have reported that the deal is far from concluded, however.
*PAYPAL SAID TO BE IN TALKS TO BUY CRYPTO FIRMS INCLUDING BITGO
— Carol Massar (@carolmassar) October 22, 2020
BitGo is one of the crypto industry’s first institutional-focused platforms, offering clients customized custodial services for their Bitcoin. The interest is not unfounded, as PayPal will also need a premium custodian service to support its latest crypto features.
BitGo currently serves various major cryptocurrency companies, including Binance, Coinbase, Nexo, and more.