Xapo CEO Joins PayPal’s Board of Directors

PayPal Holdings Inc. announced it has appointed 41-year-old fintech entrepreneur Wences Casares to its Board of Directors, effective January 12, 2016. Casares, who also sits on the boards of directors of non-profit organizations Kiva and Endeavor, will serve on PayPal’s Compensation Committee.

Casares has founded and served as the CEO of Xapo, a Switzerland-based company which provides bitcoin wallet, debit card and vault services. Among his qualifications is the Harvard Business School’s Owner/President Management (OPM) and Casares is a member of the Young Presidents’ Organization and an elected member of the World Economic Forum’s “Global Leaders of Tomorrow” Class of 2001.

Speaking on his appointment, Casares said: “I am honored to serve on the board of an iconic global company dedicated to driving the transformation of money on a global scale. I look forward to working together with the PayPal board and leadership team to continue to deliver their compelling vision.”

Dan Schulman, President and CEO of PayPal, extended a welcome to Casares, saying: “Wences’s unique line of sight into the future of commerce is ideally aligned with PayPal’s vision of transforming the management and movement of money for people around the globe.”

Other endeavours that Casares has undertaken include the founding of successful technology and financial ventures in the U.S., South America and Europe, including Argentina’s first ISP, as well as Latin American online brokerage, Patagon. He has also founded Brazilian retail bank, Banco Lemon, and mobile payments companies Bling Nation and Lemon Wallet.