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PayPal CEO Eyes Next-Gen Payment and Crypto Currency

PayPal continues to be intrigued with innovative payment methods and on Wednesday the company named Bitcoin expert Wences Casares to its Board of Directors. In the announcement, PayPal CEO Dan Schulman said Casares’ focus on next-generation payment and crypto-currency was a perfect fit for PayPal.

Casares happens to be the man who helped PayPal turn its company headquarters into a mobile-payments zone 6 years ago through the company he founded, Bling Nation. Former eBay CEO John Donahoe is seen in this video interview from the 2010 PayPal Developers Conference showing off his Bling Nation-enabled mobile phone.

Casares has since founded bitcoin wallet Xapo. PayPal has been intrigued with Bitcoin for some time, and in 2014, it announced integration with some Bitcoin payment processors, falling short of adding Bitcoin to its wallet.

In addition to founding Xapo and Bling Nation, Wences founded Argentina’s first ISP, Brazilian retail bank Banco Lemon, mobile payments company Lemon Wallet, and Latin America’s online brokerage Patagon. He also sits on the boards of directors of non-profit organizations Kiva and Endeavor.

Wences will serve on PayPal’s Compensation Committee and is the ninth member of PayPal’s board. His appointment was effective January 12, 2016.

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Ina Steiner
Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.