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“It all starts with Bitcoin,” an anonymous insider said of Amazon’s intention to enter the cryptocurrency payments market.
According to an anonymous source within Amazon, the e-commerce giant is planning to accept Bitcoin (BTC) payments by the end of 2021, potentially paving the way for broader mainstream acceptance of crypto transactions.
“This isn’t just going through the motions of setting up cryptocurrency payment solutions in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” an anonymous source told City A.M., according to a report published on Sunday.
While Bitcoin is the first step in Amazon’s crypto ambitions, she indicated that executives at the company are eager to add other established cryptocurrencies in the future. She stated that the “directive is coming from the very top,” referring to Jeff Bezos, and added:
“This entire project is pretty much ready to roll.”
Amazon is said to be exploring the creation of its own cryptocurrency, possibly as early as 2022, in addition to accepting Bitcoin payments.
Speculation about Amazon’s entry into the cryptocurrency market has been raging for days after a new posting for “Digital Currency and Blockchain Product Lead” appeared on the company’s job board last week.
According to the job description, the new hire will contribute to the development of Amazon’s digital currency strategy and product roadmap. The position necessitates extensive knowledge of blockchain, distributed ledgers, central bank digital currencies, and cryptocurrency in general.
This isn’t Amazon’s first crypto-related job posting. As reported, the e-commerce behemoth hired a technical lead in February to assist in the development of its new “Digital and Emerging Payments” platform.