Bitcoin business CEO joins PayPal board

Bitcoin business CEO joins PayPal board


Rage Comment : Although we still don't know the real intention of PayPal to recruit Wences Casares to join the board of directors, as early as 2013, eBay CEO John Donahoe said that digital currency is a disruptive technology and considered accommodating Bitcoin to PayPal. In September 2014, Braintree, a mobile payment company under PayPal's parent company EBay, announced that it would include Bitcoin and allow merchants on the platform to accept Bitcoin payments. Xapo's goal is to become a bank in the digital currency industry. Its concept has been sought after by Wall Street and has received an investment of 40 million US dollars. Perhaps this is PayPal's preparation for a series of innovative actions in the future.

Translation: Prince Gong

PayPal, the global leader in online payments, today announced that Wences Casares, CEO of Xapo, has been appointed to PayPal’s Board of Directors.

Wences Casares, CEO of Xapo

Casares is the former founder of digital wallet company Lemon, which was acquired by LifeLock in 2013. Casares launched Bitcoin security startup Xapo, which has raised $40 million in two recent rounds of funding.

In its announcement, PayPal praised Casares for his past entrepreneurial efforts and called him a "thought leader in digital currency."

Dan Schulman, President and CEO of PayPal

While not specifically mentioning bitcoin in the announcement, PayPal president and CEO Dan Schulman said Casares will work as part of a team to help the company develop forward-thinking innovations.

Schulman said

“Wences has a unique vision for the future of commerce and is perfectly aligned with PayPal’s mission to transform the way people around the world pay and manage money.”

While Xapo remains the most high-profile company in the industry, it is embroiled in a lawsuit brought by online identity verification company LifeLock, which targets former employee Casares and four other members of its management team.

LifeLock alleges that the defendants spent “several months” developing Xapo while employed by LifeLock and used LifeLock resources. Xapo countersued.

As of January 4, 2016, Xapo successfully transferred the case from California to Argentina because his status as an "Argentine citizen" at work was approved by Supreme Court Peter Kirwan, which effectively terminated the case.

Casares will subsequently join PayPal's Compensation Committee.


<<:  Is blockchain the ultimate solution to stop hackers from attacking big data?

>>:  Beijing Bitcoin Meetup

Recommend

The four best luck signs

The four best luck signs Different parts of the f...

What does the career line in palmistry mean?

Everyone's palm lines are different, so some ...

Where is the peach blossom mole that makes women's peach blossoms bloom?

In life, we will find that some women never find ...

Despite Bitcoin’s consolidation, traders remain bullish

Aside from a brief test of $18,100 on Dec. 1, Bit...

Is there a left or right position for the wealth line on a woman's palm?

How to read the complete graphic interpretation o...

What is the fate of a man with hanging needle lines? Is he destined to be rich?

Whatever it is, as long as it is rare, it must be...

Inventory: The biggest winners and losers in the crypto industry in 2021

The cryptocurrency and blockchain industry has ex...

What is the lifeline?

The lifeline is called the earth line in ancient ...

What are the facial features of people with high emotional intelligence?

We must have heard the phrase "Appearance is...

What is the personality and destiny of people with big short eyebrows?

Big short eyebrows are thick and short, with yell...

Face analysis: Is it good for girls with round faces?

In modern society, it seems that melon-seed faces...