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Amazon to Launch Crypto Project for Emerging Markets

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  • Amazon is preparing to launch a crypto project for emerging markets.
  • The firm is hiring across several job roles for the project.
  • In line with this, the firm has listed job postings for a Senior Manager, Software Development Engineers (SDE), and Managers (SDM).
  • Moreover, crypto payments might be a hyped service in the upcoming years.

American firm Amazon is preparing to launch a cryptocurrency project as it has begun to hire staff in Mexico, the US, and other emerging countries.

Amazon Prepares to Launch Crypto Project

Amazon is a huge e-commerce and cloud computing services platform. The US firm has named its new project ‘Digital and Emerging Payments’, which allows the conversion of cash into cryptocurrency. The firm is also hiring across several job roles for the project.

One job post describes the project,

“This product will enable customers to convert their cash into digital currency using, which customers can enjoy, online services including shopping for goods and/or services like Prime Video.”

Moreover, the firm has listed job postings for a Senior Manager, Software Development Engineers (SDE), and Managers (SDM) to drive the payment product. For the Senior Manager post, countries such as Brazil, Singapore, Australia, and other emerging countries were listed as their starting launch places.

In addition, Mexico is listed as the initial launch country in the job postings for SDE and SDM. More so, the role of an SDM detailed that the project will focus fully on the payment services in the growing markets. However, Amazon did not provide much of the details on the new initiative.

Over the years, Amazon has made huge investments in many countries. However, in countries like India, the e-commerce firm is facing strong competition from foreign-owned firms. This allows Amazon to start several payment services.

Despite this, Facebook is trying to launch its own crypto and facing regulatory tensions. On the other hand, Amazon is perhaps taking the safer route. However, crypto payments might be a hyped service in the upcoming years.

Recently, Tesla revealed its intentions to accept Bitcoin as payments after a $1.5 billion investment in the cryptocurrency. Also, UBER CEO announced that the firm will consider accepting Bitcoin as payment.

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