Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
âIt begins with Bitcoin,â an anonymous insider said in describing Amazonâs intent to enter the cryptocurrency payments arena.
An anonymous source within Amazon has reportedly told London business newspaper City A.M. that the e-commerce giant is planning to start accepting Bitcoin (BTC) payments by the end of 2021, possibly setting the stage for broader mainstream acceptance of crypto transactions.Â
âThis isnât just going through the motions to set up cryptocurrency payment solutions at some point in the future â this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,â the source told City A.M., according to a report published on Sunday.
Related: Bringing the crypto payments ecosystem around the world: Ray Youssef
The source indicated that, while Bitcoin is the first step in Amazonâs crypto ambitions, executives at the company were keen to add other established cryptocurrencies in the future. The âdirective is coming from the very top,â referring to Jeff Bezos, they said, adding:Â
âThis entire project is pretty much ready to roll.â
In addition to accepting Bitcoin payments, Amazon is said to be exploring the creation of its own cryptocurrency, possibly as early as 2022, they said.Â
Speculation about Amazonâs entry into the cryptocurrency market has been raging for days after a new posting for âDigital Currency and Blockchain Product Leadâ appeared on the company's job board last week. As per the job description, the new hire will help develop Amazonâs digital currency strategy and product roadmap. The position requires strong domain expertise in blockchain, distributed ledgers, central bank digital currencies and crypto more generally.
Related: Countries representing over 90% of global GDP are exploring CBDCs
This isnât the first crypto-focused job posting at Amazon. As Cointelegraph reported, the e-commerce giant in February was recruiting a technical lead to help develop its new âDigital and Emerging Paymentsâ platform.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.