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Pay Giant PayPal’s Eye on Blockchain

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Pay Giant PayPal’s Eye on Blockchain

Digital payments giant PayPal released a new job posting for the Anti-Money Laundering (AML) and Blockchain Strategy director position on March 23 to be deployed in the company’s Global Financial Crimes (GFC) division .

According to the company, the new director based in New York will be responsible for evaluating the use of blockchain to oversee the entire AML process to prevent financial crimes such as money laundering and terrorist financing.

The job posting also detailed the ideal profile should focus on blockchain-related opportunities for the company to strengthen the company’s risk department.

PayPal announced that the position requires regular review of AML reporting to identify and control critical trends within a portfolio related to blockchain, distributing it according to the company’s needs.

Wide Cryptocurrencies and Blockchain Knowledge Required for Position

PayPal requires a person to have a work experience in a financial firm that has deeply understood cryptocurrency risks and benefited from blockchain technology, with previous AML compliance or law enforcement experience.

This move of the digital payment giant is the latest example of its interest in the blockchain and cryptocurrencies environment.

PayPal’s Interest In The Crypto Domain

It was previously stated that on November 19, 2019, PayPal launched a $ 4.2 million funding round for TRM Labs, a cryptocurrency management platform. PayPal CEO Dan Schulman announced that he owned Bitcoin (BTC) on November 20 of the same year and emphasized his “very volatile” attribute and said: “Until it is less volatile, it is a coin widely accepted by sellers on the web. will not have a unit. Beware, it’s not a dark web, it’s a web. ”

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