One of the world’s biggest retail outlets, Walmart, is on the lookout for a “Digital Currency and Cryptocurrency Product Lead” to “own and drive the Digital Currency strategy” for the company. This move from the retail giant could be a promising development for the crypto community and sees yet another industry titan directing its gaze toward crypto adoption.
This new position at Walmart will require a director to be based at the company’s headquarters in Bentonville, Arkansas. The role has been described in the vacancy post, stating that the new Product Lead will need to identify cryptocurrency partnerships and investments, and also “identify customer needs and translate them into product requirements.”
At this point, it is still unclear whether or not this new director will be working on projects related to Walmart’s possible acceptance of cryptocurrency as payment, and whether or not it will involve the use of Bitcoin and the Lightning Network. But the job listing does indeed hint at a possible new direction for the retailer in this regard.
This news comes only a few weeks after rumors about Amazon’s possible move towards crypto had stemmed from a similar job posting and created a stir of excitement in the crypto community. Together, Amazon and Walmart manage billions of dollars worth of transactions through their online retail platforms per year, and a move such as this from either of them would certainly see many other companies in the industry following suit.
The total market capitalization for cryptocurrency had exceeded 2 trillion dollars for the first time in April this year before dipping somewhat in recent months and has recently retaken its position above this incredible milestone. With news of Walmart’s possible move toward crypto and other positive headlines assisting the overall perception of cryptos, this mark should be easily maintained – especially if this step from the company has promising results.
This is not the first time Walmart makes the headlines in the crypto space. The company had applied for a patent on their own stablecoin project only two years ago, but there has been no news on the subject since – perhaps the new Cryptocurrency Product Lead will be heading this project too, but only time will tell.
Walmart is North America’s biggest retailer by sales with over 11,500 outlets in total. If the company had to start facilitating payments in Bitcoin or even had to add Bitcoin to the corporate treasury, millions of new users would be introduced to distributed ledger technology, which would certainly contribute toward the pace of global crypto adoption.
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