The largest American online payments system PayPal has joined a Series A investment in Cambridge Blockchain, Forbes reports.
Cambridge Blockchain is a startup that is focusing on giving individuals a way to own their own online ID without the need of a third party. PayPal spokesperson told Forbes they made an investment because "it was applying blockchain for digital identity" in a way that it believes could benefit financial services.
At press time, the amount of investment is unknown. In December 2018, PayPal initiated a blockchain-based reward program for its employees.
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