Reports say Amazon to create its own digital token and accept BTC payments

According to the inside sources, Amazon is planning to accept Bitcoin payments “by the end of the year”, and is seeking to develop its own token for 2022

Amazon has boosted the crypto market after a job advertisement for a cryptocurrency and blockchain lead sent the Bitcoin rumour mill into a spin.

In the ad, it says the company wants to “develop the case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities”.

According to inside sources, the advertisement is about more than simply looking into options.

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the insider told City AM.

“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”

She also added that heads of the internet behemoth were very interested in dealing with the biggest cryptocurrencies such as Bitcoin and Ethereum and allegedly also Cardano and Bitcoin Cash, but that they want to make sure the method of crypto payments were stable, fast and secure.

Project is ready to roll

“Ethereum, Cardano and Bitcoin Cash will be next in line before they bring about eight of the most popular cryptocurrencies online,” added the source.

“It won’t take long because the plans are already there, and they have been working on them since 2019.”

The source also revealed that the next plan includes developing Amazon’s own token.

“When all these crypto ducks are lined up, there’s another twist to push things even further into Amazon’s favour – a native token. After a year of experiencing cryptocurrency as a way of making payments for goods, it is looking increasingly possible that we’re heading towards tokenisation,” added the quoted source.

“There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored.”

Coin Rivet asked Mati Greenspan – founder and CEO at Quantum Economics, for his opinion.

He pointed out that there was no official word from Amazon about the story, just quotes from an unnamed source.

“It certainly would be exciting if the rumours turned out to be true,” he said.

 

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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