Paypal

Basics

• Operates a worldwide online payment system.

PYUSD

PayPal is launched (8-8-2023) a stablecoin called PayPal USD (PYUSD) for payments and transfers in the US, backed by U.S. dollar deposits and short-term U.S. Treasuries. It enables fast transfers, person-to-person payments, and cryptocurrency conversions. PYUSD aims to streamline virtual payments and support international transactions while being compatible with web3 environments and eventually available on Venmo.

Other Crypto Links

• LayerZero; part of the Series A of $135 million (31-3-2022).
• Curv got bought by PayPal (9-3-2021).
• Is integrating a bunch of cryptocurrencies into its digital wallet (21-10-2020). From The Defiant:

"It’s important to note that while PayPal users will be able to hold a crypto asset balance, they won’t hold the tokens themselves — in other words, they won’t control or own the private keys, according to the terms.

This means users won’t be able to send crypto to other accounts and wallets, and they’ll have to exchange their digital assets for fiat to withdraw their balance —at least for now. All crypto custody and trading will be performed by Paxos Trust."

• Was a consortium member of Facebook's Libra but pulled out of the project on 4-10-2019.
• With LocalBitcoins, you can meet up with people in your local area and buy or sell bitcoins in cash, send money through PayPal, Skrill or Dwolla or arrange to deposit cash at a bank branch.
• Incubator for TenX.

Employees

• Casares, Wences; board member
• Rabois, Keith; senior executive
• Thiel, Peter; co-founder
• Efran Katz, a technology leader. Is part of the guidance team at the bootcamp (21-4-2020) of Celo.

Former employees

• Dezard, Bertrand; Former senior business manager at Braintree (Paypal) and VISA now CPO at Pluton.
• Marcus, David; was President of PayPal, where he led the payments company’s global expansion and product strategy. Under his leadership, PayPal brought back its technology and product centric DNA, won back developers and small businesses, and acquired Braintree (parent company of the popular P2P payment app, Venmo) that further accelerated the overall growth of the company. David joined PayPal after the acquisition of his last startup, mobile payments company, Zong, and led Mobile products before ultimately taking the leadership role at the company. Now Board of Directors at Coinbase, Vice President of Messaging Products at Facebook.
• One or more are now working (together with) TrueUSD
• Mike Blandina; held senior engineering roles now at Bakkt
• Cred got founded by former PayPal employees.
• Mike Dudas; claims to have worked here (4-2-2021).