PayPal CFO Says Firm Not Interested in Crypto Sector Right Now

The chief financial officer (CFO) of major payment system PayPal said that the firm is hesitant about getting involved in the cryptocurrency sector in an interview with Yahoo Finance on May 7. Speaking about the company’s future cryptocurrency plans, PayPal CFO John Rainey pointed out that the firm previously allowed its merchants to accept bitcoin (BTC) as a form of payment, but subsequently saw the instability and volatility of the currency. “If a merchant accepted that they would quickly convert it to a more stable currency like the euro or…

Facebook’s Secret Cryptocurrency Led by PayPal Alumni Targets India Launch

By CCN.com: Facebook’s much-hyped cryptocurrency project, dubbed Project Libra, may launch in India within a matter of months, according to a Bloomberg report. The secretive blockchain project, led by a team of PayPal alumni, is expected to launch a stablecoin for sending peer-to-peer payments to friends and family as well as integrating with major e-commerce players. Famed investor Mike Novogratz this week called Facebook’s looming service “stunningly important” to the crypto space. If executed correctly, he said, Facebook’s payment service will be a “big, big deal” and lend credibility to…

Facebook’s Secret Cryptocurrency Led by PayPal Alumni Targets India Launch

By CCN.com: Facebook’s much-hyped cryptocurrency project, dubbed Project Libra, may launch in India within a matter of months, according to a Bloomberg report. The secretive blockchain project, led by a team of PayPal alumni, is expected to launch a stablecoin for sending peer-to-peer payments to friends and family as well as integrating with major e-commerce players. Famed investor Mike Novogratz this week called Facebook’s looming service “stunningly important” to the crypto space. If executed correctly, he said, Facebook’s payment service will be a “big, big deal” and lend credibility to…

PayPal Still Isn’t Sold on Bitcoin Being The Future of Payments

Photo: Shutterstock Recently PayPal CFO John Rainey said something about PayPal’s crypto plans that revived the whole story about “PayPal Mafia” in general. While Rainey said that he doesn’t think that Bitcoin is mainstream enough to be a big focus for them claiming that PayPal added Bitcoin to the list of their payment options for merchants years ago, another group has organized themselves being more crypto-proactive. What Rainey actually said was that due to the immense level of volatility in the crypto market, retail businesses would instantly convert Bitcoin to…

Will Visa, Mastercard, PayPal Be Eclipsed By Crypto? Bitcoin Data Shows It’s Already Happening

Crypto Is Cheaper Than Visa, Mastercard, Traditional Payment Systems Since Bitcoin (BTC) garnered some semblance of traction, it has been touted as a viable alternative to traditional digital payment rails, like Visa, Mastercard, or PayPal. As ShapeShift’s Erik Voorhees said in a recent interview, BTC, unlike centralized digital monies, is free to use (accessible), borderless, and uncensorable — arguably making it a perfect substitute. And yes, the leading cryptocurrency is probably best used as a store of value (gold alternative), as scaling efforts are deemed lackluster by pundits, but recent…

PayPal Aims to Prevent Crypto Ransomware Attacks With New Patent

Digital payments giant PayPal has won a cybersecurity patent to protect users from crypto ransomware, according to a document from the United States Patent and Trademark Office (USPTO) published on April 16. The system described in the patent, entitled “Techniques for ransomware detection and mitigation,” intends to improve the detection of ransomware and prevent it from locking up users’ access to their files. PayPal’s patent describes ransomware as a malware that may encrypt original data and delete the non-encrypted original version, with the malicious party usually demanding users to pay…

NYSE-Backed Bitcoin Exchange Snags PayPal & Google Veteran

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. The first quarter has come and gone, and there’s still no Bakkt. Nonetheless, the regulated exchange for bitcoin futures contracts, whose backers include NYSE-owned Intercontinental Exchange (ICE) and Microsoft, is…

Former Paypal, Google Engineering Exec Joins Bakkt as Chief Product Officer

A former engineering executive at PayPal and Google will join the team behind the institutional digital asset platform Bakkt, the firm’s CEO Kelly Loeffler announced in a blog post on Medium on April 11. With over 25 years of experience in digital payments, engineering, strategy and operations, Mike Blandina has joined Bakkt as its chief product officer (CPO). As the new CPO of Bakkt, Blandina will lead the firm’s efforts to converge a trusted ecosystem for digital assets with payments use cases in order to help Bakkt bring real applications…

Bitcoin Futures Exchange Bakkt Hires PayPal, Google Vet as Product Chief

Bitcoin futures exchange Bakkt has hired a PayPal and Google veteran as its new chief product officer. The firm announced Thursday that it had hired Mike Blandina, who at various points in his career served as head of payments and credit engineering at PayPal and director of engineering for Google Wallet. Most recently, Blandina was chief technology officer and head of product and engineering at OneMarket, Bakkt CEO Kelly Loeffler wrote in a blog post. “As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital…

PayPal Makes Its Historic First Blockchain Investment

Photo: PayPal News / Twitter The tendency to join the crypto world either directly or indirectly became rather popular among more traditional businesses comparatively not so long ago but today nobody is surprised when some information of this kind appears here and there. First Investment This time online payments giant PayPal has made the community speak about it as it has taken a decision to make its first-ever investment in a blockchain technology company. As it has been recently announced, the company joined the extension of Series A investment in…