- PayPal included blockchain in the Strategic Technology Enabling office.
- According to anonymous sources, PayPal will offer cryptocurrency trading in the short term.
The company PayPal Inc. is looking for an engineer for its blockchain research group, which is part of the Strategic Technology Enabling office. This search coincides with the rumors that this company is about to offer cryptocurrency trading services, through PayPal and Venmo.
Among the job searches available on the PayPal website, you can see the position of “Blockchain Research Engineer”. The offer, opened on June 3, states that this researcher will have among his tasks the search for “use cases that can expand PayPal’s understanding of blockchain and specific blockchain implementations.”
Among the tasks that the contracted person must fulfill, they also include interaction with potential partners, suppliers and industry media dedicated to the development of blockchains, as well as the recommendation of products and technologies external to the company that can contribute to the development of “New concepts of the company“.
The text adds that the “ideal candidate” should have a “strong history of innovation” and the ability to investigate on their own in the areas necessary for the position. Additionally, the offering states that the research team “will seek to understand the current and future state of blockchain technologies, their relative advantages and disadvantages, and their applicability to PayPal’s core and adjacent businesses.”
The offer also makes it clear that the research objectives will be reevaluated with a periodicity of between 3 to 6 months. On these results, it will depend if it continues, if the investment is increased or decreased. The text even determines that, if after the evaluation it is considered that “there are no more relevant research objectives”, the team could be put at the service of research in other areas.
Rumors about cryptocurrency trading on PayPal
This Monday, June 22, the alleged plans of PayPal to offer cryptocurrency trading services in the short term on its platform came to light. According to the report outlined in Cointelegraph and other media, anonymous sources with knowledge of the project have confirmed that within a period of about three months the payment platform would be offering the new service to its clients.
The testimonies did not shed light on the numberor what cryptocurrencies PayPal would include. What the sources did add is that the company would be in talks with crypto exchanges such as Coinbase and Bitstamp to obtain the necessary liquidity to offer said service.
PayPal has previously approached the world of cryptocurrencies. His most recent approach was the inclusion in the Libra Association, through which the Facebook cryptocurrency project, Libra, would be created. But, like other companies initially named to the association, PayPal exited the project in the last quarter of 2019.
The company’s own CEO, Dan Schulman, had anticipated that they were working on projects associated with cryptocurrencies and blockchains, although he did not give details about what they were developing at PayPal.