Monday 16 August 2021 4:31 pm

Walmart seeks digital currency and crypto product lead

US retail giant Walmart is searching for a digital currency and cryptocurrency product lead to help the company make inroads into the crypto space.

According to an advert posted on the company’s career page, the retailer is looking for a fresh hire who can “own and drive the Digital Currency strategy for Walmart” and develop the company’s digital currency “product roadmap.”

The company also hopes the new role will help Walmart to identify “crypto-related partnerships and investments.”

The advert has led to speculation that Walmart is considering allowing customers to make payments in crypto or even eyeing the launch of its own digital currency.

While Walmart has not confirmed its intentions the retailer has hinted at the possibility of launching a digital currency over the past few years.

In 2019, Walmart filed a patent for the creation of a digital stablecoin with a value which may be “tied to a national currency.” The blueprint was compared to Facebook’s flagship digital currency the Libra which has since rebranded as ‘Diem.’

A patent for Walmart’s new Fintech unit, know as Hazel, was filed in March and said the company planned to offer a range of financial services to customers including issuing credit cards, offering credit-repair services and “providing virtual currency transaction processing services.”

Walmart has also participated in blockchain trials for keeping track of drugs and food in its supply chain.

While Walmart’s intensions are as yet unclear they are not the only retail giant to be eyeing crypto products. 

In June, Amazon also posted a job advert looking for a Blockchain Head of Product with experience in the burgeoning field of Decentralized Finance.

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