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Jyoti Singh
Apr 1, 2020
by Jyoti Singh

PayPal To Appoint AML and Blockchain Strategy Director

PayPal
The digital payment giant, Paypal, a few days ago, made an announcement to hire an Anti-Money Laundering (AML) and Blockchain Strategy Director for its Global Financial Crimes (GFC) division.

Hiring Announcement By PayPal

The statement released by the company mentioned that the new director would be an in-charge of evaluation. The director’s responsibility would be to administer the entire AML process to prevent financial crimes from happening. Therefore, as an in-charge, he would have to check all the cases that have used blockchain.

In its announcement, PayPal has stated,

“The successful candidate will be responsible for evaluating blockchain use cases with an eye towards financial crimes risk management and overseeing AML investigative activities and emerging trends in this space.”

The digital payment company has clearly stated that the new director would regularly have to review the AML-related coverage so that it could find and inspect the critical trends within the blockchain-related portfolio.

PayPal needs a person who formerly held a position in Blockchain technology-related financial firms. He should also have knowledge about cryptocurrencies, risk related to it and also have experience in AML compliance.

This is not the first time the company shows its interest in cryptocurrency for a long time, it has been expressing it.

PayPal Interested In Cryptocurrency

According to a report, on November 19, 2019, PayPal invested $4.2 million in a funding round organized by TRM Labs, for cryptocurrency risk management. The digital payment company participated with Initialized Capital Blockchain Capital and Y Combinator and led the funding round.

In the year 2018, the TRM lab was found to support the financial institutions in the US, Latin America, Asia and Europe. The company would monitor and mitigate the risk related to cryptocurrencies.

Just the next day of the funding round, i.e, on November 20, 2019, the CEO of PayPal, Dan Schulman, while highlighting the volatile nature of Bitcoin stated that he owns one.

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    PayPal To Appoint AML and Blockchain Strategy Director
    Jyoti Singh
    Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

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