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American retail behemoth Walmart is looking to hire a digital currency and cryptocurrency product lead, as per a job listing on its website. The company’s new recruit will be responsible for developing a digital asset strategy for Walmart, identifying customer needs and crypto-related investments, and acting as an internal and external subject matter expert.
Walmart Hiring Cryptocurrency and Digital Currency Product Lead
On August 15, Walmart advertised a crypto-focused opening for its office in Bentonville, Arkansas. The company stated that it was seeking a cryptocurrency and digital currency product lead with over 10 years of experience in product management. Additional requirements included experience with cryptocurrency ecosystems and roadmap development and execution.
Walmart emphasized that it wanted a “visionary leader”, who would design a digital currency strategy for the company:
The new hiring signals a return to consumer financing for the big-box retailer which has previously failed to make an impact in the sector. In 2005, the company had unsuccessfully tried to obtain a special banking charter from federal agencies and met severe backlash, forcing it to withdraw its application.
Retail Giants Fuel Speculations With Crypto-Focused Hirings
Ever since cryptocurrencies started gaining a foothold in retail payments, Walmart has tried to shift its strategy to the new asset class. In 2019, it tried to patent a stablecoin that bore many similarities to Facebook’s Libra project. A year later, the company partnered with gamified loyalty platform StormX, which allows users to earn crypto cashback on their purchases from Walmart. More recently, it established a fintech unit with Ribbit Capital, called Hazel, that is centered on “modern, innovative and affordable financial solutions."
As reported earlier Amazon had advertised a similar job opening last month, which led to speculations that the e-commerce giant was foraying into crypto payments. Those rumors, however, were put to rest by an Amazon representative.
It remains to be seen if Walmart’s hiring would trigger a fresh round of rumors. Nevertheless, it’s always a good sign for the industry when another major brand decides to add crypto to its services.