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Amazon could be adding a crypto payment option based on its latest job posting

The product leader will be responsible for developing the company’s digital currency and blockchain strategy and product roadmap.

Image by: Ivan Radic / Flickr

Sun, 25 Jul 2021, 11:05 am UTC

Amazon could be the next Big Tech firm to enter the crypto space. The company just posted a job posting seeking a Digital Currency and Blockchain Product Lead, which suggests its growing interest in the digital asset sector.

The new hire will work with the Amazon Payment Acceptance and Experience Team, which is responsible for how the company’s customers will pay for purchases on Amazon’s site and for the firm’s cloud services via AWS. The product leader will be responsible for developing the company’s digital currency and blockchain strategy and product roadmap.

“You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities,” the e-commerce company said on its job listing.

While Amazon.com does not accept crypto payments at the moment, the job post appears to be hinting that it is planning to integrate cryptocurrency on the site. A company spokesperson also said that the e-commerce giant has been following the developments in crypto and is interested in digital currency’s potential use for fast and inexpensive payments.

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon,” the company rep told Business Insider. “We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

This could mean that Amazon would become the latest Big Tech firm to enter the crypto space. Facebook is developing its own crypto project, which was initially named Libra and later renamed Diem.

Amazon has long shown interest in cryptocurrencies. The company launched its own virtual currency called “Amazon Coins” in 2013, which lets users make transactions in Kindle-based apps, which is still in use today and valued at around one cent per coin, according to Fortune. It is also bought three crypto web addresses in 2017 but did not divulge the reason for the purchase.

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