Crypto.Com Hires Former PayPal Executive To Increase Adoption Among Merchants
Crypto.Com Hires Ex PayPal Executive To Increase Adoption Among Merchants
A crypto platform based in Hong Kong called Crypto.com has decided to hire Tyson Hackwood, a former PayPal executive as part of a larger plan to make cryptocurrencies more popular with merchants. The information was officially sent out to the media on a press release today, December 11.
Hackwood will join the company as the new senior vice president and will also act as the new head of global merchant acquisition. This company was created by Monaco, a debit card provider which acquired the Crypto.com domain for $10 million USD in July 2018.
The main idea behind hiring Hackwood was to convince more merchants to adopt point of sale (PoS) transactions via QR code using Bitcoin and other cryptos, something that the company believes that Hackwood can help a lot, since he has experience from the Australian branch of PayPal Here, which was a branch of the company that was focused on PoS transactions.
Kris Marszalek, the CEO of Crypto.com, has affirmed that the main goal of the company is to allow people to pay and be paid with crypto and that Hackwood will play a very important role in making this happen as he knows how to deal with merchants and PoS payments.
Hackwood is also supposed to increase the merchant uptake on the company and secure the place of Crypto.com when many other companies are trying to do the same. Even with the bear market, many companies are trying to carve their place in this niche and turn it into a profitable business.
Other companies like Square are also focusing a lot on PoS payments using Bitcoin and it looks like they will become a major thing in 2019, so the companies that are getting well-prepared now are the ones that will have more luck later.