Lloyds Bank, the largest bank in the United Kingdom, has hired a bitcoin expert

Lloyds Banking Group, based in the United Kingdom, is looking to hire a senior manager for digital currency and innovation, adding to the increasing number of financial institutions that are experimenting with cryptocurrencies.

According to the job description, the position fits with the expansion of digital currencies, a trend that the bank claims has progressed quickly.

The lender goes on to say that cryptocurrencies have the potential to be integrated into traditional finance, necessitating the hiring of staff to aid in the new venture's development.

The new hires will be assigned to the Payments Liquidity & Settlement department. The branch is in charge of liquidity and settlement risk for intraday payments. The division is part of the bank's £3 billion People, Platforms, and Data project. ​​

“As a company, we need to keep up with this transformation and look into digital currency prospects that will affect the speed at which payments settle, provide liquidity benefits, and help banks expand their payment services. This service might also be extended to our customers,” Lloyd added.

Promoting cutting-edge technologies and identifying new strategic opportunities will be among the major tasks of the selected candidate. The bank claims that multiple factors, such as improved regulatory clarity, are driving the trend towards the cryptocurrency sector. The bank also claims that central banks' rising interest in CBDCs is a motivating reason for entering the digital asset market.

More financial institutions are dabbling in cryptocurrencies.

Most institutions invested in cryptocurrencies in the first half of this year because of their rapid rise. Banks are vying for market share by diversifying their crypto-related offerings. Several major lenders, in particular, are aggressively employing expertise in the field of cryptocurrency. After advertising 34 positions for blockchain professionals in June 2021, JP Morgan announced the development of its crypto division.

A job opening for a blockchain engineer was also published by the Bank of International Settlements in 2020. Digital currencies are gaining popular appeal as major banks enter the market. It also gives the cryptocurrency sector greater legitimacy.


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