Stripe, the payment processor that has increasingly leaned into crypto, is interested in acquiring all or part of PayPal, Bloomberg reported on Tuesday.

The private company "has expressed preliminary interest in a potential acquisition of the digital payments pioneer or its assets," the report said, citing anonymous sources.

Stripe said Tuesday it has signed agreements with investors to provide liquidity to current and former Stripe employees through a tender offer at a $159 billion valuation. Investors, including Thrive Capital, Coatue, and a16z, will provide the majority of funds for the tender offer. Stripe would also utilize some of its own capital to repurchase shares.

Trailblazing early online payments starting in the 1990s, PayPal is considered a pioneer in facilitating financial transactions over the internet and normalizing digital wallets. PayPal has tried to remain relevant amid the digital asset boom, but has at times struggled to carve out meaningful market share amid stiff competition from new entrants like Stripe.

Stripe declined to comment on the news.

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