BusinessWalmart looks to expand payment options to include cryptocurrencies

Walmart looks to expand payment options to include cryptocurrencies

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North American retail giant, Walmart looks to be getting into the cryptocurrency market as the company posted a job opening for a digital currency and cryptocurrency product lead, who can develop and drive the company’s digital currency strategy and product roadmap.

Walmart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores from the United States.

According to the job posting, the company stated that it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience in product or program management, technology commercialization and/or technology.

In the job description, Walmart hinted it is trying to focus on its future digital currency strategy by noting that it already enables a “broad set of payment options for its customers,” and the individual taking the job will be responsible for “developing the digital currency strategy and product roadmap.”

Back in 2019, Walmart had already filed a patent for a blockchain-based U.S. dollar-backed digital currency that was, at the time, similar to Facebook’s early proposals for what was then known as Libra.

This year, Walmart created a fintech venture called “Hazel,” which is reportedly poised to offer a wide range of financial services integrated into a “mobile-first ‘super-app.”

In addition to developing and driving an overall crypto strategy, the job description states that the key tasks would involve identifying customer needs and translating them into product requirements; forging partnerships with product, technology and design leaders; committing to a cryptocurrency product roadmap; driving the project’s execution; and identifying crypto-related investment opportunities and partnerships.

What you need to know

Walmart is listed on the New York Stock Exchange (NYSE) and it is trading at $149.53 as of the time of writing this report. Year-to-Date, the share price is marginally up by 2.05%. The share price bottomed out in March when it traded around the $127 zone and ever since it has been on an uptrend. The company has a market capitalization of approximately $419 billion, a market capitalization Ethereum traded when its price traded $3,902.65 according to coinmarketcap.

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