Lloyds Banking Group to Acquire Digital Wallet Provider Curve for $139M Amid Shareholder Dispute

Lloyds Banking Group has finalized a £120 million ($139 million) acquisition of Curve, a British digital asset wallet service provider, according to insider sources. The deal, set to be announced next week, marks Lloyds' most significant foray into digital payments. Curve, which boasts over six million users, recently informed shareholders of the signed share sale agreement.

Despite the strategic move, the acquisition has faced backlash from major Curve investors, who argue the valuation undervalues the platform. CEO Shachar Bialick acknowledged the discrepancy with past fundraising rounds but emphasized the necessity of securing the company's future. Curve has raised over £250 million since inception, including a £37 million round led by Hanco Ventures in March.

The urgency stems from Curve's dwindling cash reserves, which could deplete this year without a buyer. The acquisition underscores traditional finance's accelerating pivot toward digital assets, even as valuation disputes highlight the tension between growth and investor expectations.