Mastercard Job Ads Show It's Hiring for Cryptocurrency 'Wallet Solutions'

Mastercard job ads show the electronic payments giant is looking to fill in three senior positions to lead efforts in cryptocurrency “wallet solutions.”

The company’s job board shows it’s searching for individuals to fill in positions related to the cryptocurrency wallet space. More specifically, it’s looking for a director of “product development and innovation,” for a director of “product management – crypto currency/ wallets,” and for a vice president of “product management – blockchain/crypto.”

The job descriptions, as first reported by The Block, show the new employees will be working with a “cross-functional team comprising of Franchise, Compliance, Regulation, Products, Labs, Regions and Technology to develop new products and solutions.”

Two of the job descriptions also mention “wallet solutions” in the context of the blockchain projects they’ll be working on. Candidates are required to have experience managing cryptocurrency wallet products, which hints Mastercard is looking to develop its own cryptocurrency.

Some believe the electronic payments giant may be doing so in light of its partnership with Facebook, which is reportedly going to launch a new cryptocurrency called Libra next year.

Mastercard is one of the 27 founding members of Facebook’s cryptocurrency project, that will see the social media giant launch its own wallet Calibra. Mastercard may be looking to develop a competitor for Calibra, as a widely adopted cryptocurrency-based payments system may undermine the use of credit cards.

Late last year, as covered, Mastercard filed a patent application to make blockchain-based transactions anonymous. While the company has in the past blamed cryptocurrencies for a slip in its growth, it has been exploring blockchain technology for years.

In 2017 it announced it was opening its blockchain to merchants and banks to test a payment network, while last year it reportedly hired some engineers with expertise in blockchain,