Former PayPal Executive Hired To Drive Growth of Crypto.com Pay

Kevin O'Brien

Crypto.com, a leading payments and cryptocurrency platform, announced former PayPal executive Tyson Hackwood has joined the team as SVP, Head of Global Merchant Acquisition.

Hackwood joins Crypto.com to drive growth and adoption of Crypto.com Pay, a crypto payment solution powered by Crypto.com’s chain.

Crypto.com says the platform will give people the ability to use cryptocurrency to pay for goods and services and receive lucrative cashback rewards.

Merchants using Crypto.com Pay will enjoy “greatly reduced processing fees” for online or offline cryptocurrency settlement.

Bringing Experience From A Variety Of Industries

According to a press release, Hackwood comes to the Crypto.com team after spending more than 17 years working in digital commerce, mobile payments, and partnership-driven businesses.

He served as the Asia Pacific Director for an e-commerce division of PayPal called Braintree.

Crypto.com CEO Kris Marszalek says Hackwood’s:

“relationships and experience in online digital payments will significantly advance our goal of enabling seamless, secure, and cost efficient transactions between merchants and cryptocurrency users worldwide."

Hackwood indicated he was excited to work towards growing Crypto.com Pay and says his past experience “will aid in the steady and sustainable adoption of this native blockchain technology and cryptocurrencies."

In November, CryptoGlobe reported that the Metropolitan Commercial Bank and Crypto.com were planning to launch the MCO Visa Card inside the United States.

Crypto.com’s MCO VISA cards are prepaid with a number of features, including no annual or monthly fees, no foreign transaction fees, and tap and pay functionality.

Top Executives Moving To Crypto Companies

A number of top executives have made their way from the traditional financial world into the crypto space.

In early October, Charles Schwab’s Chris Dodds joined the board of directors at Coinbase. Dodds, who serves on the board at Charles Schwab, has decades of experience inside of the financial world.

A bit later in the month, the Gemini cryptocurrency exchange announced the hiring of Jeanine Hightower-Selitto as its new managing director of operations.

Formerly the Chief Operating Officer at International Securities Exchange, many speculated Hightower-Selittto would help Gemini grow after the launch of its USD-pegged stablecoin.

Ripple’s Success as a Payment Company May Not Benefit XRP, Says Pompliano

Michael LaVere
  • Morgan Creek Digital co-founder Anthony "Pomp" Pompliano is a strong supporter of Ripple as a payment protocol company. 
  • Pomp remains unconvinced whether Ripple's success will ultimately benefit XRP as an asset for investment. 

Morgan Creek Digital co-founder Anthony “Pomp” Pompliano believes that Ripple’s success as a payment protocol may not benefit XRP in the long run. 

Speaking on the latest episode of The Pomp Podcast, Pompliano outlined his reasons for being a fan of Ripple. According to Pomp, Ripple excels as a blockchain-based payment company that has managed to forge relationships with banks and financial services across the globe. 

However, Pompliano remains unconvinced of whether Ripple’s overall success will translate into benefits for XRP. 

He said,

What I don’t understand, and I think where I choose to not engage on the XRP side, is I don’t understand why people are buying it, speculating on future price movements.

Pomp explained that he saw the advantages of using XRP in the Ripple ecosystem, but was skeptical of the cryptoasset for investment. 

He said,

To me, if Ripple is successful, that doesn’t mean XRP has to be successful.

Pomp continued, saying that if you separate XRP and Ripple, the latter’s ultimate goal is to build better software for banks. He called Ripple’s mission a “no-brainer,” “venture capital bet” and admitted to being jealous of missing out on investing in Ripple’s seed round. 

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