Mastercard
appears to be angling to enter the crypto wallet space with new job ads
for blockchain and cryptocurrency-related product development.
According to updated job listings from the payments giant as of August 2, the company is seeking to hire for the following roles:
“Director, Product Management - Crypto Currency/ Wallets, Director, Product Development & Innovation - Blockchain Solutions Architect, and VP, Product Management - Blockchain/Crypto.”
A bid for the crypto wallet space?
Two
of the new roles — the future director of product management for
cryptocurrency/wallets and future VP of product management for
blockchain/crypto — will lead a team focused on developing
blockchain-based solutions that include wallets, the job listings
reveal.
While neither ad discloses full details of the planned
products’ scope, they do indicate that the new hires will be asked to
identify solutions and concepts “that have strategic fit and value to
Mastercard’s customers and partners.”
Mastercard, notably, is reported to be one of the partners in the Libra Association — a consortium established to govern Facebook’s planned stablecoin project, Libra.
This
leaves open the question of whether or not Mastercard plans to embark
on a roadmap as a crypto wallet solutions provider to partner projects
such as Libra, or potential other entrants into the crypto space.
Other avenues
The
future hire for VP in product management for blockchain/crypto should
notably have “experience with current payment systems” as well as
“familiarity with relevant industry standards and regulatory
requirements,” the ad indicates.
All roles will be
required to closely monitor evolving trends in the cryptocurrency
ecosystem and spearhead solutions for new technological developments as
well as emerging risks.
As an incumbent of the previous generation of global digital payments processors, Mastercard is increasingly embracing blockchain and cryptocurrency-related development.
Just last week, instant crypto loans firm Nexo revealed it would be launching a Mastercard-branded cryptocurrency credit card.
In fall 2018, Mastercard ranked third globally on a list ranking global entities by the number of blockchain-related patents they had filed to date.
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