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Mobile payments processor Stripe has tapped the co-founder of cryptocurrency investment firm Paradigm for a board seat. 

Stripe announced the appointment of Matt Huang, who holds the title of managing partner at Paradigm, in a blog post on Friday.

Stripe has been in the process of hiring and onboarding a new crypto engineering team that will focus on Web 3 applications, an executive for the company said on Twitter last month

Before co-founding Paradigm, Huang was a partner at Sequoia Capital, specializing in early-stage venture investments. Prior to that, he was the founder and CEO of Hotspots, which was acquired by Twitter in 2012.

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“Very few people know more about crypto—and, specifically, its potential to help internet businesses around the world—than Matt,” said Patrick Collison, co-founder and CEO of Stripe. “We’re delighted he’s joining our board of directors.”