PayPal Forms Cryptocurrency Advisory Board

According to the official statement, the structure is intended to provide support for the company's "current and future products&qu...

According to the official statement, the structure is intended to provide support for the company's "current and future products" in the crypto industry. PayPal representatives recognize that digital money and tokens can significantly expand customer access to innovative financial services and services. In this regard, the leadership decided to create a special council, whose members will communicate with representatives of the world's most successful companies in this environment. The members of the council included:

• Fortress Investment Group CEO Peter Brieger;

• Georgetown University Law Center Professor Chris Brammer;

• Professor of the Weizmann Institute of Science Shafi Goldwasser;

• former chairman of the U.S. Commodity Futures Trading Commission Timothy Massad;

• Director of the MIT Cryptocurrency Initiative, Nea Narula;

• Antoinette Shoah, professor at the MIT Sloan School of Management.

Jose Fernandez da Ponte, vice president, and general manager of PayPal became the head of the newly created body. Recall that in the fall of 2020, the payment operator for the first time announced a service for working with bitcoin and other large digital coins for customers from the United States. In April 2021, the same functionality became available to users of the Venmo application, of which PayPal is the general shareholder.

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In the period 2021, the volume of cryptocurrency transactions of Ukrainian investors increased five times. In addition, Ukraine entered the top ten countries with the highest earnings from investments in tokens. This was announced by the Deputy Minister of Digital Transformation for IT Development Alexander Bornyakov during his speech at the Diia Summit.