PayPal invests in a Blockchain startup for the first time

PayPal_5After a long wait, the payments giant has decided to hop into the cryptosphere and invest in Cambridge Blockchain startup.

“Our service helps streamline digital identity compliance while giving customers control over their identity data,” said Matthew Commons, Cambridge Blockchain’s CEO. “We are honored by PayPal’s vote of confidence, and we look forward to their support and guidance.”

Announced today on their official website, Cambridge Blockchain stated that the two companies will explore potential collaborations powered by the incredible blockchain technology. The investment amount was not disclosed by neither of the two companies.

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