Payments company Curve is in active discussions to acquire crypto lender BlockFi’s more than 87,000 credit card customers — whose credit cards have been suspended since Nov. 11.
A Curve spokesperson told Cointelegraph that “outreach and negotiations” started on Nov. 12 and are still in the process with Banking as a Service (BaaS) company Deserve, which services the BlockFi card program.
My BlockFi credit card has officially stopped working.
R.I.P 2021-2022— Portland.HODL (@PortlandHODL) November 11, 2022
“Terms are being negotiated actively between Curve and Deserve, but a sale or partnership, if agreed to, is pending the conclusion of due diligence,” the spokesperson said.
“The primary point of contact for the pending negotiation is Deserve/ Evolve, not BlockFi, but that is an understanding that needs to be confirmed,” they added, noting also that Curve is not interested in BlockFi’s assets.
Should the acquisition succeed, the fintech is looking to continue BlockFi’s credit card program, noting that customers will still be able to earn crypto rewards.
They also said an added benefit of a successful acquisition is that customers from BlockFi’s credit card program “will not be ported to yet another centrally-held exchange.”
Reports over the weekend suggested that Binance US and Coinbase were also pursuing BlockFi’s credit…
