PayPal is in talks to acquire Curv, an Israeli startup that specializes in cryptocurrency safekeeping, according to multiple publications.
The Curv deal could be worth between $200 and $300 million, according to Israeli technology news site Calcalist, which broke the news. It cited a source familiar with the talks.
CoinDesk independently reported that the deal was being done for $500 million, attributing it to a person in the same market segment as Curv.
Bloomberg confirmed talks were ongoing, but its anonymous source said they were in the early stages and could yet "fall apart."
Curv and PayPal did not comment on the reports.
Curv develops custody technology aimed at institutions that relies on so-called multi-party computing. The method is an alternative to the current industry standard of "cold storage," which offers security at the expense of speed.
The company was founded in 2018 and has raised $29.5 million in venture-capital funding from backers including U.S. asset-manager Franklin Templeton. The venture arms of German bank Commerzbank and San Francisco-based crypto exchange Coinbase have also participated in funding rounds for Curv.
An attempt by PayPal to acquire Curv would be consistent with earlier reports regarding the payment processor's interest in crypto storage solutions. PayPal tried to buy the crypto custody firm BitGo last year, but talks reportedly broke down by December, Fortune reported at the time.
PayPal offered $750 million in cash for the custodian, according to CoinDesk. It's not clear whether PayPal's previous reported offer for BitGo would have been an all-cash deal.
The digital-payment giant launched cryptocurrency trading for its US customers in October, in short order reporting a surge in usage. It's in the process of porting that service to Venmo, a PayPal subsidiary.