PayPal has opened a new vacancy «Director for anti-money laundering (AML) and blockchain development strategies». He will join the office in New York.
The duties of the director will include analyzing potential variants of using blockchain to control the financial crime risk, monitoring AML investigations and studying new trends in the financial area.
Besides, the new employee will have to analyze the risks connected with PayPal’s investment portfolio in the blockchain industry and take charge of meetings with external partners. Moreover, the applicant for the position must have at least 10 years of experience in ensuring legal compliance.
It should be reminded that last year PayPal invested in Cambridge Blockchain. The company is engaged in the management of crucial data with the technologies of distributed register. In addition to that, the payment platform invested in the crypto-banking startup Initialized Capital. PayPal also reviews the possibility of joining the Libra Association, but finally gave up their initiative.
PayPal also pays great attention to own research activities in the field of blockchain. In 2019, the company received a patent for a device that allows you to identify ransomware of cryptocurrency and deal with the consequences of their harmful activities. Meanwhile, last November PayPal CEO Dan Schulman (Dan Schulman) noted that he owns bitcoin, but does not buy any other cryptocurrencies.