Online payments giant PayPal is hiring a blockchain expert to join its financial crimes division, as the firm steps up its resources for tackling frauds and theft. According to a job listing, PayPal is in the market for a new director of anti-money laundering and blockchain strategy, with a remit of \u201cevaluating blockchain use cases with an eye towards financial crimes risk management and overseeing AML investigative activities and emerging trends in this space.\u201d The successful candidate will be based at their New York City office, where they will be required to \u201cassess risks\u201d relating to PayPal\u2019s blockchain portfolio, as well as \u201clead external partner diligence meetings related to blockchain opportunities and potential.\u201d The listing requires applicants to have at least 10 years\u2019 experience in compliance, and PayPal is keen on securing an experienced hire to head up the division. The move comes at a time when PayPal is already working on several compliance initiatives related to blockchain technology. In April 2019, the company invested in Cambridge Blockchain, which uses the technology to handle sensitive data. According to the company, it chose to invest in Cambridge Blockchain because \u201cit is applying blockchain for digital identity in a way that we believe could benefit financial services companies including PayPal.\u201d PayPal also participated in a funding round for emerging crypto banking compliance firm Initialized Capital, a one-time member of the Libra Association, as well as securing several patents relating to blockchain technology. One of the patents involves a tool for detecting crypto ransomware and preventing it causing further damage to infected systems. This continues a long-standing interest in blockchain and digital currency at PayPal, which was amongst the first payment processors to support digital currency payments back in 2014. In recent times, the company has turned its back on BTC, preferring the underlying technology while stopping short of endorsing the inefficient BTC for payments. The new hire is set to expand PayPal\u2019s work with blockchain, setting the strategic direction for its involvement with blockchain technology over the months and years ahead.