|Place of birth||New Jersey, U.S.|
|Alma mater||New York University Stern School of Business|
Dan Schulman has served with distinction as a C-level executive for about 20 years, driving several new products onto the market. He became the CEO of PayPal before the company was split away from e-commerce giant eBay in 2015. Under the leadership of Schulman, the company has gone from strength to strength, increasing profits, share price and number of employees year-on-year. However, he only truly came onto the scene of the crypto industry in 2020. Back in 2018, he stated that the volatility of crypto makes it “unsuitable to be a real currency that retailers can accept.” But now, it seems the times have changed.
Talk about keeping things under wraps until everything is ready and approved by regulators! PayPal announcing and rolling out its crypto option at the end of 2020 became one of the year’s top stories, with the year already seeming like it was going to end on a good note for the crypto industry regardless. It seems like the devastating coronavirus pandemic opened Schulman’s eyes to the prospects of digital payments. Luckily enough, there are already several fairly well developed digital payments infrastructures that are enjoyed by a niche number of enthusiasts.
When it comes to crypto and blockchain, education is key, and it seems that Schulman has done his homework, as PayPal came into the game with an easy-to-use solution right out of the box.
It seems that Schulman and PayPal have big plans for 2021. In several interviews, the CEO has spoken of the vast potential for the adoption of cryptocurrencies due to the declining use of cash. He is also a big believer in governments moving into the space to issue central bank digital currencies as crypto versions of their native currencies.
However, in order to make crypto stick, Schulman believes that regulators have to be on board. So, with all of those facts together, it seems that the general direction for the company will be to take up the adoption mantle and spread crypto across PayPal’s 28 million merchants around the world in a completely regulated manner.