//PayPal announces a new CEO as its crypto push accelerates

PayPal announces a new CEO as its crypto push accelerates

Illustration by Alex Castro / The Verge

PayPal’s new CEO will be Alex Chriss, starting September 27th, as first reported by CNBC. Chriss is currently the senior VP and CPO of small business for Intuit, and he will replace Dan Schulman. Schulman, who has been PayPal’s president and CEO since 2014, had previously announced plans to step down by the end of the year and will remain a director until next May.

The company recently announced its own US dollar-backed stablecoin called PayPal USD (PYUSD) earlier this month, allowing people to make person-to-person payments and transfer the currency between PayPal and other outside wallets. Cointelegraph reports that, on the same day, the PayPal terms of service also updated to mention a new Cryptocurrencies Hub where users can manage…

Continue reading…