PayPal said its new standalone crypto and payments unit will combine core merchant and platform services with PYUSD, and Jeff Pomeroy has been appointed interim head.
PayPal has announced a strategic reorganization that makes cryptocurrency and payment services one of its three core business segments. The standalone unit will combine payment processing, platform capabilities, Braintree, small and medium-sized business merchant services, value-added services, and PYUSD, PayPal’s U.S. dollar-pegged stablecoin. The update adds a management change to the previously announced restructuring, with Jeff Pomeroy named interim head of the crypto and payments division. PayPal has said it will provide more details on May 5.