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PayPal Evaluating Blockchain Use Cases After CEO Reveals He Owns Bitcoin (BTC)

March 31, 2020

A new job listing posted by PayPal shows that the payments giant is looking for a director of anti-money laundering and blockchain strategy as the company appears to be exploring how it can harness the power of the emerging technology.

The team member will be tasked with evaluating blockchain use cases on top of preventing financial crimes such as terrorism and money laundering. The successful candidate would also “lead external partner diligence meetings related to blockchain opportunities and potential” while reviewing relevant risks to the company’s blockchain portfolio.

This isn’t the first time PayPal has grabbed headlines in the crypto and blockchain space.

A few months ago, in an interview with Fortune. PayPal CEO Dan Schulman revealed that he personally owns Bitcoin. And in June of last year, PayPal joined Facebook’s digital asset project Libra. However, it quickly changed course and withdrew from the Libra consortium months later, becoming the first member to leave the controversial project which has faced backlash from regulators around the globe.

Schulman says the company dropped out of Facebook’s project after determining that PayPal could make more progress on financial inclusion by focusing on its own initiatives.

“As we learned more about [Libra] and saw the amount of things that were still left to do and the amount of things we still had to do on our own roadmap outside of Libra, we said, ‘You know, we think if we focus on our own roadmap, we’d be able to advance financial inclusion faster than if we put all these resources against Libra.'”

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