PayPal announced a strategic reorganization, with the three integrated business segments including "payment services and cryptocurrency."

Payment giant PayPal officially announced the launch of a strategic reorganization, simplifying its business into three core segments: payment checkout and PayPal, consumer financial services and Venmo, and cryptocurrency and payment services. The cryptocurrency and payment services segment is listed as a core business unit, integrating payment processing, platform capabilities, and cryptocurrency business, including Braintree, payment processing for small and medium-sized merchants, value-added services, and stablecoin PYUSD. Jeff Pomeroy has been appointed as the interim head of this segment.

PayPal President and CEO Enrique Lores stated that this reorganization aims to accelerate the execution of long-term growth strategies, simplify decision-making processes, and drive innovation. It will promote sustainable growth by being closer to consumer needs, strengthening collaboration among the three business segments, and enhancing operational efficiency. It is reported that PayPal will provide more details about the new operating model during the earnings call on May 5.