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Crypto.com, the cryptocurrency based payment platform in Hong Kong, hired a former PayPal executive, the company confirmed in a press release on December 11th.
Tyson Hackwood will become part of the crypto-business as a senior vice president and responsible for the acquisition of global traders. Crypto.com, which originated after the cryptocurrency debit card provider Monaco acquired the domain name for a value of $ 10 million in July, seeks to increase the adoption by consumers and merchants for point of sale transactions (PoS).
Previously, Hackwood was head of PayPal's Australian subsidiary. Here, the company's PoS division has been responsible for the Asia Pacific area for mobile and payment of Web Braintree payments.
"As we develop the Crypto.com chain to meet the industry's current need to pay and be paid for in cryptography, Tyson will play an important role in expanding the number and quality of merchants who are part of our network." , stated the CEO of Crypto. com Kris Marszalek commented.
Hackwood said it will focus further on the increased use of Crypto.com product dealers at a time when more competitors are trying to trap the PoS market.
Despite the decline in cryptocurrency prices in 2018, the number is set to expand beyond the cryptic names of the industry such as BitPay and Coinbase.
When the payment company Square announced its new payment terminal last month, rumors soon spread that the functionality of Bitcoin (BTC) could soon become an additional feature of the device. Square had previously launched a Bitcoin wallet service for its users.
In August, former PayPal president David Marcus left his post at Coinbase amid concerns over a conflict of interest.
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