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Amazon users may soon have the option to pay for their orders in Bitcoin and other cryptocurrencies. As per a recent job listing, the e-commerce behemoth is looking for a Digital Currency and Blockchain Product Lead to join its payments team. The move signals rising interest in digital assets for retail transactions and could pave the way for mainstream adoption of crypto payments.
Amazon Set to Accept Bitcoin and Other Crypto Payments By Year-End
The incoming member of Amazon’s payments team is expected to have experience in blockchain, distributed ledger, CBDCs, and cryptocurrencies. The selected candidate will “develop the case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”
The latest job opening isn’t the only factor fuelling speculations on Amazon’s interest in crypto payments. According to the news website City A.M., an insider has confirmed that Amazon could “definitely” roll out cryptocurrency payment options by the end of this year. Additionally, the company might introduce its native token by 2022.
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” she told the media outlet.
Initially, Amazon may only allow Bitcoin for transactions, however, this will expand to other digital currencies in the future. The insider claimed that these ideas were coming directly from the company’s owner Jeff Bezos. She also added that the implementation would not take time since “the plans are already there, and they have been working on them since 2019.”
The Payments Project is “Ready to Roll”
Amazon could make a big splash in the crypto world if it goes through with its current plan. The company has the needed platforms and user base that could trigger mainstream adoption of cryptocurrencies in retail transactions.
For now, the company’s alleged payments roadmap includes Bitcoin, followed by Ethereum, Cardano, and Bitcoin Cash. It is also planning a token that could truly be a game-changer and incentivize customers to use its platform.
Speaking on potential tokenization the insider stated, “After a year of experiencing cryptocurrency as a way of making payments for goods, it is looking increasingly possible that we’re heading towards tokenization. This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme.”
As of now, Amazon has not officially commented on its crypto project. Therefore, any rumors and speculations concerning the said initiative should be taken with a grain of salt.