Amazon could launch digital currency project

Recent job postings suggest Amazon may be preparing to launch a digital currency project in Mexico.

Job postings suggest that e-commerce giant Amazon may be preparing to launch a digital currency project in Mexico. Simultaneously, Amazon has yet to announce the project, several job postings at the company hint at a typical walled digital currency that could launch in emerging markets.

Amazon is currently looking for a software development manager whose job would be with digital and emerging payments. In its job posting, the tech giant said it brings together a technology team to develop innovative payment products for customers in emerging markets. The tech team consists of talented software development engineers (SDEs) and software development managers (SDMs).

The ideal candidate will help Amazon launch a new payment product. According to Amazon, the effect would allow customers to convert cash into digital currency, which they can use to access online services such as shopping for goods and services.

Amazon is a significant provider of e-commerce, logistics, streaming, and cloud services but does not play a significant role in the world of digital currencies. Recent job postings indicate that Amazon is looking to change that by launching its digital currencies project.

A second job posting indicates that Amazon will target emerging markets. The e-commerce giant is hiring employees at various levels to manage the payment experience for its digital business and lead payment for retail launches in such countries. Employees would also run end-to-end payment experiences for customers in emerging markets and launch payment products in those markets.

Amazon has yet to announce the launch of the project. It is still unclear if there is a connection with Amazon Coin. Amazon introduced the Amazon Coin in 2013 to allow Kindle and gaming users to pay for goods and services.

Huge companies have entered the digital currency space in recent months. They are beginning to accept Bitcoin or other cryptocurrencies as payment as crypto adoption continues to grow. Facebook has been struggling to get its cryptocurrency Libra (now called Diem) to market for some time and face regulatory challenges.

Tesla is the latest company to enter the digital currency space, having invested $1.5 billion in Bitcoin and now allowing customers to pay for goods and services with the cryptocurrency. More companies may pursue similar ideas in the coming months as cryptocurrencies slowly gain acceptance.