Crypto.com Nets Ex-PayPal Exec to Increase Merchant Cryptocurrency Adoption
Fledgling merchant network Crypto.com wants to expand the scope of its offerings using ex-PayPal exec Tyson Hackwood’s expertise.
Tyson Hackwood will join the crypto firm as its senior vice president and head of global merchant acquisition. Crypto.com, which came into being after cryptocurrency debit card provider Monaco acquired the domain name for a reported $10 million in July, seeks to increase consumer and merchant adoption for point-of-sale (PoS) transactions.
“As we develop the Crypto.com Chain to fulfil the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network,” the CEO of Crypto.com Kris Marszalek commented.
Hackwood said he would additionally focus on increasing merchant uptake of the Crypto.com product, at a time when multiple competitors are seeking to corner the PoS market.
When payment company Square unveiled its new payment terminal last month, rumors soon followed that Bitcoin (BTC) functionality could soon form an additional feature of the device. Square had previously launched a Bitcoin wallet service for its users.
In August, former PayPal president David Marcus quit his post at Coinbase amid concerns over a conflict of interest.