THELOGICALINDIAN - Payments behemothic PayPal is in the action of hiring a blockchain and AML action administrator as apparent in a afresh bankrupt job posting
PayPal is hiring a blockchain action administrator based on a contempo job posting. The new appoint will be allotment of their Global Financial Crimes group.
PayPal’s Blockchain Strategy
According to the job description, PayPal’s anew assassin AML and blockchain architect will “lead bazaar amplification efforts” and focus on opportunities and partnerships accompanying to blockchain.
PayPal’s job announcement explains:
“The acknowledged applicant will be amenable for evaluating blockchain use cases with an eye appear banking crimes accident administration and administering AML analytic activities and arising trends in this space.”
The architect will additionally backpack out “external accomplice activity meetings” about blockchain opportunities.
Though PayPal has not accepted that it has assassin a strategist, it appears that it has completed the hiring action based on the cachet of its advertisement.
AML is Key
Past job postings accept appropriate that PayPal is in the action of creating a Blockchain Research Group—a appellation that does not arise in this best contempo job post.
Instead, the new architect will be allotment of PayPal’s Global Financial Crimes group.
This agency that the architect will focus heavily on Anti-Money Laundering (AML) compliance. They will be amenable for mitigating AML risks in PayPal’s articles and features, reviewing AML letters to analyze trends, and reviewing AML documentation, amid added things.
It appears that these AML duties will extend above blockchain and into best areas of business.
Other Blockchain Ventures
This is not the aboriginal time PayPal has bidding absorption in blockchain.
PayPal ahead abutting Facebook’s Libra Association, but withdrew from the accumulation aftermost October forth with several other flagship companies.
The company’s adventure arm has additionally invested in a cardinal of blockchain companies. Last April, it invested in Cambridge Blockchain, a blockchain character administration company. Then, in November, it invested in TRM Labs, a cryptocurrency accident administration belvedere for banking institutions.
PayPal additionally notes that its affiliation with Braintree allows merchants to acquire cryptocurrency through acquittal processors like BitPay, GoCoin, and Coinbase.
However, PayPal has not yet alien any cryptocurrency-related casework for accepted users. That actuality is absurd to change accustomed the regulation-focused attributes of this month’s hire.
