Paypal adds Xapo bitcoin entrepreneur Wences Casares to its board

 
Clara Guibourg
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Paypal CEO Dan Schulman Opens Trading On Nasdaq Exchange
Dan Schulman: "Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision" (Source: Getty)

Paypal just added fintech and bitcoin entrepreneur Wences Casares to its board.

The move marks a big step forward for Paypal’s push into bitcoin, launched in 2014. 41-year-old Casares is founder and chief executive of bitcoin payment firm Xapo, but has previous experience from a number of other fintech ventures.

“I am honored to serve on the board of an iconic global company dedicated to driving the transformation of money on a global scale,” said Casares, adding:

“I look forward to working together with the PayPal board and leadership team to continue to deliver their compelling vision.”

With Casares Paypal’s board now numbers nine members. Dan Schulman, the payment firm’s president and chief exec welcomed the addition, saying in a statement:

Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.

Paypal shares, which have been struggling, rose 2.4 per cent on the news.

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