PayPal Appoints Bitcoin Company CEO To Board

A digital currency enthusiast has joined the board at PayPal.

PayPal announced yesterday (Jan. 13) that it appointed Wences Casares to its board of directors. Casares is the founder and CEO of Xapo, a bitcoin company. The company provides tools for consumers to both purchase bitcoins and manage them through its digital wallet. It also enables consumers to spend bitcoin using the Xapo Debit Card or store them in Xapo’s secure Vault.

Calling him a “successful international FinTech entrepreneur and recognized next-generation payment and cryptocurrency thought leader,” PayPal noted that he will serve on the company’s Compensation Committee.

“I join PayPal’s directors and the entire PayPal team in welcoming Wences to our board,” said Dan Schulman, president and CEO of PayPal. “Wences’ 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.”

“I am honored to serve on the board of an iconic global company dedicated to driving the transformation of money on a global scale,” Casares said in the company news release. “I look forward to working together with the PayPal board and leadership team to continue to deliver their compelling vision.”

Casares’ background includes founding technology and financial ventures in the U.S., South America and Europe. He founded Argentina’s first ISP, along with Latin American online brokerage Patagon. He also founded Banco Lemon, a Brazilian retail bank, as well as mobile payments companies Bling Nation and Lemon Wallet.

Casares is a member of the Young Presidents’ Organization and an elected member of the World Economic Forum’s “Global Leaders of Tomorrow” Class of 2001. He completed the Harvard Business School’s Owner/President Management (OPM) program in 2003. Casares also sits on the boards of directors of nonprofit organizations Kiva and Endeavor.

Casares’ addition brings PayPal’s board to nine members.