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07/27/2021

Speculation Over Amazon’s Cryptocurrency Interests Grows After Job Posting

Speculation is rising that Amazon may be looking to enter the cryptocurrency space after the e-commerce giant posted a job opening for a “digital currency and blockchain product lead.”
Bitcoin

The posting hints that Amazon may someday accept cryptocurrencies as digital payments. The news had an immediate impact on cryptomarkets, sending Bitcoin soaring 14%, topping $39,000 per coin on July 26, CNN reported. 

“The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” reads the job advertisement. “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.”

Another U.K.-based financial publication, City A.M. reported Amazon may accept Bitcoin payments by the end of 2021. Bitcoin is a digital currency that is decentralized on blockchain technology. 

If Amazon decides to accept Bitcoin or other cryptocurrencies, it will join the ranks of a handful of other retailers, including Pennsylvania-based convenience store chain Sheetz. Automaker Tesla has flip-flopped on Bitcoin after the company decided earlier this year it would no longer accept the digital currency as a form of payment. However, recent reports suggest Tesla may allow Bitcoin as payment once again in the future.

See the full story at Chain Store Age