PayPal has made a notable move to position itself for the future of money and currency after it added seasoned fintech figure and bitcoin entrepreneur Wences Casares to its board.
Argentina-born Casares has packed a lot into his 41 years to date. He’s currently CEO and founder of Xapo, a bitcoin payments startup that has raised $40 million to date, but his past ventures include digital wallet company Lemon (acquired by LifeLock for $42.6 million in 2014), Argentina’s first ISP, an online brokerage (Patagon which was bought by Spanish bank Banco Santander for $750 million) and New York-based Wanako Games.
No doubt a financial technology visionary, Casares has become best known for pioneering bitcoin in recent times and that’s exactly why PayPal has added him to its board, increasing the total number of seats to nine.
Getting him involved in the company will help PayPal, which made a major push to adopt bitcoin in 2014, in a number of ways. That could include identifying and acquiring promising bitcoin companies, and increasing its focus on and awareness of alternative payment technologies that could unlock new opportunities for its business worldwide.
“I join PayPal’s directors and the entire PayPal team in welcoming Wences to