Digital payments giant PayPal posted a new job listing on March 23, where the company seeks to hire an Anti-Money-Laundering (AML) and Blockchain Strategy director for their Global Financial Crimes (GFC) division.
According to the company, the new director —based in New York — will be in charge of evaluating blockchain's use cases for the prevention of financial crimes, such as money laundering and terrorist financing, to supervise the entire AML process.
The post also detailed that the ideal profile must focus on blockchain-related opportunities for the company in terms of strengthening the risk department of the company.
PayPal clarified that the role implies a regular review of AML-related reporting to identify and oversee critical trends within a blockchain-related portfolio by deploying it in accordance with the company's needs.
Broad cryptocurrencies and blockchain background required
PayPal requires that the person has previously held a position in a financial firm leveraging blockchain technology, with a deep understanding of cryptocurrency risks, together with experience in AML compliance or law enforcement.
It is not the first time that the digital payments giant has expressed an interest in the blockchain and cryptocurrencies environment.
PayPal’s interest in the crypto sphere
Cointelegraph reported on November 19, 2019, that PayPal had led a $4.2 million funding round for TRM Labs, which is a cryptocurrency management platform.
PayPal’s CEO Dan Schulman revealed on November 20 of the same year that he owns Bitcoin (BTC) and highlighted its “very volatile” nature:
“Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.”