PayPal Appoints Bitcoin Entrepreneur To Its Board

PayPal Holdings, Inc. on Wednesday announced that founder and CEO of Xapo, Wences Casares, has been appointed to its Board of Directors, thereby raising PayPal’s board to 9 members. Casares’s appointment was effective January 12, 2016 and he will serve on PayPal’s Compensation Committee.

“I am honored to serve on the board of an iconic global company dedicated to driving the transformation of money on a global scale,” Casares said in a statement. “I look forward to working together with the PayPal board and leadership team to continue to deliver their compelling vision.”

The press release said that Casares is a successful international fintech entrepreneur and recognized next-generation payment and crypto-currency thought leader. He has founded successful technology and financial ventures in the U.S., South America and Europe.

“I join PayPal’s directors and the entire PayPal team in welcoming Wences to our Board,” said Dan Schulman, President and CEO of PayPal. “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.”

Xapo is a bitcoin wallet provider that provides the tools people need to purchase bitcoins and then manage them through an easy-to-use online wallet, spend them through the Xapo Debit Card or store them in Xapo’s secure Vault.