Apple hints at entering the crypto space in latest job listing

• Apple drops hint it might enter the crypto space in the latest job listing. 
• According to the announcement, the potential candidate is required to have at least 5 years of professional experience In cryptocurrency. 

The crypto market has attracted several heavyweight companies this year led by Elon Musk’s Tesla Inc. Its $1.5 billion investment into Bitcoin was enough to disclose the Interests of institutions in the highly volatile market. The latest mega-company that may enter the crypto space is the $2 trillion-valued tech giant, Apple Inc. 

Though no official announcement has been made in this regard, the company dropped a hint in its latest job listing in which it seeks to find the services of a business development manager. The Apple Wallets, Payments, and Commerce (WPC) team is searching for someone to lead the Alternative Payments Partnerships. 

According to the announcement, the potential candidate is required to have at least 5 years of professional experience In cryptocurrency.

5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency, etc..

The tech giant also expects the candidate to have understandings of the complexities of cash flow, as well as the relevant regulations, the industry standard, and the wide spectrum of FinTech products. The description for the role alludes to the fact that Apple may be considering a partnership in the crypto space. 

Apple has over a couple of months shown flexibility when it comes to crypto. A recent partnership has ensured that users can purchase Cardano (ADA) with Apple Pay, thanks to the integration by Simplex, an Israeli-based provider of fiat to crypto services. Apple Pay has over 65 million users and gives direct crypto access to millions of users through Apple devices, wallets, and credit cards. 

Apple has always been a fan of crypto

Apple believes that emerging financial technology can have an important effect on the way people live. 

New ideas have a way of becoming extraordinary products, services, and customer experiences people once couldn’t have imagined — and now can’t imagine living without.

In 2017, the co-founder of Apple, Steve Wozniak said Bitcoin is a better standard of value than gold and the USD. He stated that only the finite supply of Bitcoin makes it different from USD. In 2019, the Vice President of Apple Pay, Jennifer Bailey also showed support for cryptos and hinted at a possible move into the crypto space. 

We’re watching cryptocurrency. We think it’s interesting. We think it has interesting long-term potential.

It is worth noting that the institutional move into cryptos in the last two years is second to none. Unlike the late 2017 and early 2018 bull run that was caused by retail interest to a larger extent, the recent moves are linked to the high rate of crypto adoption by institutions.