Paypal New Director
Xapo CEO Wences Casares has been appointed to PayPal’s board of directors, the pioneering online payments firm announced today.
In the official release, Casares was lauded by PayPal for his previous entrepreneurial attempts and position as a “cryptocurrency thought leader”.
While he did not mention bitcoin especially, Dan Schulman, president and CEO of PayPal, planned to standing Casares as an accession to the team that would help the company with its forward looking initiatives.
“Wences’s unique line of sight into the future of commerce is aligned with PayPal’s vision of transforming the direction and movement of cash for folks around the earth.”
Though Xapo stays one of the most high profile firms in the industry, it did see its star dim somewhat amid the previous employer of Casares, a lawsuit by online identity company LifeLock and four other members of its executive team in 2015.
LifeLock has asserted that the defendants “spent months” developing Xapo using LifeLock resources and while employed by LifeLock. A cross-charge would later file.
As of 4th January, Xapo had claimed the case should be moved to Argentina from California, as the work was done by “Argentine citizens”, a motion given by Judge of the Superior Court Peter Kirwan that effectively prevents case developments.
It’s certainly one of the big bitcoin news happened in the recent times which gives more popularity for bitcoin and its future developments.
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