The CEO of Xapo Wences Casares has joined the board of directors of the global online payment company PayPal.

Rumours about the payment giant PayPal's possible adoption of bitcoin started to circulate last year. In November 2015 Ebay, which works in tandem with PayPal, revealed its interest towards cryptocurrencies by filing two patents for cryptocurrency-related systems with the United States Patent and Trademark Office. The company's spokesman shared with the Financial Times that Ebay is preparing to expand the range of digital currencies it accepts.

Xapo is a bitcoin wallet provider and a bitcoin storage company renowned for its security.

As CoinFox reported earlier, Xapo is going to store its keys in deep underground bunkers in mountainous regions, as well as in space. It also offers its clients full insurance for all the bitcoins they have on their accounts.

“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,” PayPal CEO Dan Schulman stated.

Sonya Belova