PayPal Holdings, Inc. has expanded its Board of Directors to nine members by hiring a fintech expert, Mr. Wences Casares. He is expected to assume responsibilities on PayPal’s Compensation Committee immediately.
Casares is an established fintech expert and a knowledgeable adviser in the vast cryptocurrency industry. His role on PayPal’s board gives him another notable opportunity to apply the knowledge and experience he has acquired over the years in this sector.
Currently, Casares is the co-founder and CEO of Xapo, a global bitcoin wallet provider. He has established several technology and financial companies in the US, Europe and Latin America. Some of the companies include Lemon Bank, Wanako Games, and Patagon. He sold Patagon, an online brokerage company, to Banco Santander for $750 million. In addition, he has sold several companies for a total of over $1 billion. Based on his successful business deals in the technological and financial services on such a global scale, his contribution to PayPal is expected to be of great impact.
Dan Schulman, PayPal’s President and CEO, said that his entire team is pleased to welcome Casares to their board, and the company as a whole. He pointed out that Casares has an exceptional viewpoint on what the future of business should look like, which concurs with his company’s drive to constantly refine the way money is managed and transferred worldwide.
On the same note, Casares said that he is honored to be appointed to the Board of Directors of such an iconic, international firm. He added that he is looking forward to a strong working relationship with the PayPal board, as well as the entire leadership, in order to achieve a common vision and initiative.