Amazon Hints At Potential Cryptocurrency Acceptance

Bitcoin noted some robust gains over the weekend following a series of bullish comments from Tesla (NASDAQ: TSLA) CEO Elon Musk and Ark Invest CEO Cathie Wood. Come Monday, the world’s most popular cryptocurrency got an even larger boost, rising by nearly 15% after it was revealed that Amazon (NASDAQ: AMZN) may be entering the cryptocurrency space as well.

According to Business Insider, which first noticed the job posting last week, Amazon is seeking a “Digital Currency and Blockchain Product Lead,” which would provide expertise on “Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed.” The posting also revealed that the eligible candidate would work alongside various Amazon teams, including Amazon Web Services (AWS), which is the company’s cloud-computing unit.

As of current, Amazon does not provide its customers with the option to pay for purchases using cryptocurrencies, but AWS does sell a blockchain technology infrastructure product. However, the latest job posting hints that the e-commerce giant may be planning to dive deeper into the world of bitcoin and other cryptocurrencies.

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. 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,” Amazon said in a statement after news of the job posting began circulating.

Information for this briefing was found via Business Insider. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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