Apple has listed a new job posting stating that it is looking to hire a business development manager with experience in the crypto sector. The new manager will head the firm’s alternative payments partnership program.
The job posting also stated that the candidate needed to have at least a decade of experience in the sector and more than six years working in business development for a financial services firm.
Launching an Alternative Payments Division
The interesting part of the posting is that the individual needed more than five years of experience working with alternative payment providers. However, this was not a confirmation of what Apple was planning to do, but it was an indication that the tech giant may be looking into cryptocurrencies.
“We are looking for a proven professional in global alternative and emerging payment solutions,” Apple stated in the job posting.
This will not be the first time that Apple has seemed to show interest in cryptocurrencies. In 2019, the vice president of Apple Pay, Jennifer Bailey, stated that the company was actively looking into potential of cryptocurrencies. She also noted that the US was behind Europe in crypto adoption and that the market showed promise.
More companies venturing into crypto
This year has seen an increase in the popularity of digital currencies, boosting their value accordingly. Because of this, several major companies have become involved in the sector, seeking to tap into the market’s great potential.
For example, at the beginning of the year, Tesla, a leading electric car manufacturer, ventured into cryptocurrencies by accepting Bitcoin as a payment method. The company also invested heavily in Bitcoin, with an initial outlay of $1.5 billion. However, the firm later suspended acceptance of bitcoin payments in what was seen as a setback for the crypto industry, citing concerns over environmental impacts.
Tesla’s CEO has also been a great advocate for the crypto market. He has even been labelled a market maker because of the influence his tweets have on the crypto market’s performance. In addition to Bitcoin, Musk has also been pushing for Dogecoin and even branded himself the ‘Dogefather.’
Apple and Tesla are not the only giant firms in the US to show interest in cryptocurrencies. This year, leading payment service providers such as PayPal, MasterCard and Visa also ventured into cryptocurrencies by launching a new division. Wall Street firms have also been looking into cryptocurrencies to meet the increased demand for these assets by clients.
Despite the achievements the crypto market has made this year, the market crashed a couple of weeks ago, leading to nearly 50% of cryptocurrency value being wiped off the market. However, this has not deterred continued investment into the sector, with institutional buyers in particular leaning towards buying the dips.