According to CNBC, PayPal plans to spin off Venmo as a standalone segment as part of a broader reorganization. The company will create a PayPal-branded unit for merchants and consumers, and a separate payment services arm that includes Braintree and its crypto business. PayPal is recruiting a digital banking executive to run Venmo. The move comes as the company undergoes leadership changes, with executives Diego Scotti and Michelle Gill departing, while Anshu Bhardwaj takes over a new AI transformation group.
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