Walmart, the world's largest retailer, may be planning a major entry into the cryptocurrency market

Walmart is dipping its toes into the digital currency waters, with a new job ad defining a digital currency and cryptocurrency-specific employment. Walmart is looking for someone to lead its cryptocurrency and digital currency initiatives.

The new position, which is advertised on Walmart's career page, seeks a visionary leader to define the company's digital currency strategy as well as a product roadmap.

Part of the job description reads:

“We're looking for a visionary leader with a track record of successfully developing and scaling organizations. You'll have a track record of harnessing new technology and consumer data to create innovative solutions to client problems.”

The new Walmart digital currency lead will identify and convert technologies and customer trends into product requirements. In addition, the would-be hire from Bentonville, Arkansas, will look for cryptocurrency-related investments and collaborations. It's worth noting that it doesn't specify which products or partnerships the function would be responsible for.

The application asks for “experience with the cryptocurrency ecosystem and related technologies, as well as functional knowledge of the cryptocurrency ecosystem and actors involved,” among other things.

Cryptocurrency is gaining popularity.

According to Walmart's job posting, the mega-corporation is taking a closer look at the crypto market. Bitcoin and other cryptocurrencies have gained in popularity in recent years, leading to more merchant and institutional acceptance – Walmart, Apple, and Amazon are just a few of the mega-corporations that have dabbled in cryptocurrency and blockchain technology.

Walmart filed a patent in 2019 for a blockchain-based US dollar-pegged digital money, akin to Facebook's Libra stablecoin (since renamed to Diem). Though it's unclear whether Walmart is considering establishing its own digital currency with the new role, today's job announcement is the most explicit mention the retailer has made to the prospect of producing a crypto solution.

Walmart, for example, does not now accept bitcoin payments. But, with companies like PayPal and eBay allowing customers to pay for real-world goods using cryptocurrency, would it be surprising? If it happens, Walmart's crypto integration will usher in the next phase of retail giants' acceptance, as well as mainstream adoption in general.


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