Online payment giants PayPal have recruited Wences Casares, one of the driving forces behind Bitcoin to its board.
With PayPal offering loans through its Merchant Working Capital Scheme, and Bitcoin becoming popular amongst the top online lending sites, what does this addition to the team mean for the former? If anything, it indicates that PayPal is open to the possibility of introducing cryptocurrencies into its already impressive suite of services. Wences Casares, CEO of Bitcoin wallet provider Xapo, is the latest addition to the PayPal team. As well as leading one of the most accessible Bitcoin companies on the planet, Casares has also founded Argentina’s first internet service provider, and has created his own gaming company, as well as having various other online finance pursuits.
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If you aren’t familiar with Xapo or Bitcoin already, they are innovative, simple, yet life-changing pieces of technology in the world of finance and beyond, that allow online lending or payment. Bitcoin is a fairly new method, in which encryption techniques are implemented to regulate the generation of units of currency – the internet’s very own currency if you like. Xapo allows users to use a Bitcoin wallet (a virtual bank vault of sorts), and a Bitcoin-based debit card, which makes implementing the digital currency into everyday life much more simple. With the addition of this genius technology into their already amazing services, coupled with the hire of forward-thinking Casares, who knows what this year will bring for PayPal?