Payments giant PayPal announced a new board member this morning, potentially signaling the company’s openness to cryptocurrencies. Wences Casares, CEO of bitcoin wallet provider Xapo, joined PayPal’s board and is part of the company’s compensation committee.
Dan Schulman, president and CEO of PayPal
, said of the entrepreneur: “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.”
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Casares is a serial entrepreneur, founding Argentina’s first Internet service provider as well as a gaming company (acquired by Activision) and digital wallet startup Lemon (bought by LifeLock, with which [9:2
His newest startup, Xapo, allows people to purchase bitcoins and manage them in a digital wallet. Users can spend their bitcoins through a Xapo debit card or store them in a quasi savings account. One