Daily Management Review

PayPal, Visa to invest in blockchain fund


International payment service PayPal and Visa Inc. one of the world's two largest bank card companies, are investing in a $300 million Crypto VC blockchain fund, Coindesk reported, citing confirmation from Paypal.

"PayPal and Visa are trying to get into the crypto industry as partners in the fifth $300 million Blockchain Capital venture fund," the statement said.

Jose Fernandez da Ponte, vice president and general manager of blockchain and cryptocurrencies at PayPal, commented to Coindesk that investing in the new Blockchain Capital fund will facilitate interaction between entrepreneurs who are defining the future of digital currencies and blockchain.

PayPal is one the biggest international e-payment system. It enables e-trading and paying bills, sending and receiving money transfers. 

Visa is a global payment system providing access to the electronic payment network to cardholders, merchants, financial and government institutions.

source: coindesk.com