The PayPal company, intends to include a blockchain expert in its staff, which will help it use technology in the fight against financial crimes.
The Anti-Money Laundering (AML) and Blockchain Strategy Director will join PayPal’s New York office and will be responsible for “evaluating blockchain scenarios with a focus on managing financial crime risks and overseeing AML investigations, as well as new trends in this space” .
In addition, the employee is invited to assess the risks associated with the PayPal investment portfolio in the blockchain field and lead meetings with external partners. Applicants must have at least 10 years experience in ensuring legal compliance.
Last year, PayPal invested in Cambridge Blockchain, which uses distributed ledger technology to manage critical data. The payment platform also became a member of the investment round of the crypto-banking startup Initialized Capital. Initially, PayPal showed interest in participating in the Libra Association, but subsequently refused it.
In addition, PayPal conducts its own research activities in the field of blockchain. In 2019, company received a patent for a tool for identifying cryptocurrency ransomware programs and eliminating the consequences of their activities.
PayPal CEO Dan Shulman said in November that he is investing in bitcoin, but does not hold any other cryptocurrencies.