Norwegian oligarch steps in Bitcoin market, PayPal acquires Curv and NYDIG raises $200 million

Norwegian company steps into Bitcoin market

Aker ASA, a Norwegian oil and energy firm, is establishing a new unit called Seetee, dedicated to investing in bitcoin and blockchain technology, the industrial holding company said on Monday.

Seetee AS initially invested 500 million Norwegian crowns ($58.6 million) of their liquid assets in bitcoin. They also collaborate with Blockstream, focusing initially on bitcoin mining.

Aker, a holding company controlled by Norwegian billionaire investor Kjell Inge Roekke, derives most of its income from the oil and gas industry, and has in recent years increased its investments in renewable energy and information technology.

Source: Reuters

NYDIG raises $200 from strategic partners

NYDIG, a leading provider of technology and investment solutions for Bitcoin, announced a $200 million growth capital round.

CEO Robert Gutman explains that the company will be working with investors on Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy.

As an example of accelerating institutional Bitcoin adoption, NYDIG also announced that life, annuity, and property & casualty insurers now own, in aggregate, more than $1 billion of direct and indirect bitcoin exposure facilitated exclusively by NYDIG, and held on NYDIG’s secure, audited, and insured institutional custody platform.

Source: PR Newswire

PayPal aqcuires Curv

Last week, PayPal announced that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel.

“The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system,”

PayPal expects to complete the acquisition in the first half of 2021. Financial terms of the deal were not disclosed.

In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, crypto and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical expertise to PayPal.

Source: PayPal

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