These investments are part of PayPal's $535 million commitment to strengthen Black businesses and underserved communities, and help drive financial health, access and generational wealth creation. With these deposits, PayPal has now committed more than $500 million of capital through its racial equity initiatives, including a deposit in Optus Bank; an investment in LISC's Black Economic Development Fund; investments in 19 Black and Latinx-led venture capital funds; and grants to Black-owned small businesses and community nonprofits that support them. PayPal is in active conversations with several additional financial institutions and expects to deploy more funds throughout the year. "By partnering with financial institutions that have deep ties to Black and other underserved communities of color, we can create economic opportunity and make tangible progress toward closing the racial wealth gap," said Dan Schulman, president and CEO, PayPal.