Mastercard Hints at Future Crypto Wallet Product With New Job Listings

Mastercard appears to be angling to enter the crypto wallet space with new job ads for blockchain and cryptocurrency-related product development.

According to updated job listings from the payments giant as of Aug. 2, the company is seeking to hire for the following roles: 

“Director, Product Management - Crypto Currency/ Wallets, Director, Product Development & Innovation - Blockchain Solutions Architect, and VP, Product Management - Blockchain/Crypto.”

A bid for the crypto wallet space?

Two of the new roles — the future director of product management for cryptocurrency/wallets and future VP of product management for blockchain/crypto — will lead a team focused on developing blockchain-based solutions that include wallets, the job listings reveal.

While neither ad discloses full details of the planned products’ scope, they do indicate that the new hires will be asked to identify solutions and concepts “that have strategic fit and value to Mastercard’s customers and partners.”

Mastercard, notably, is reported to be one of the partners in the Libra Association — a consortium established to govern Facebook’s planned stablecoin project, Libra.  

This leaves open the question of whether or not Mastercard plans to embark on a roadmap as a crypto wallet solutions provider to partner projects such as Libra, or potential other entrants into the crypto space.

Other avenues

The future hire for VP in product management for blockchain/crypto should notably have “experience with current payment systems” as well as “familiarity with relevant industry standards and regulatory requirements,” the ad indicates.

All roles will be required to closely monitor evolving trends in the cryptocurrency ecosystem and spearhead solutions for new technological developments as well as emerging risks.

As an incumbent of the previous generation of global digital payments processors, Mastercard is increasingly embracing blockchain and cryptocurrency-related development.

Just last week, instant crypto loans firm Nexo revealed it would be launching a Mastercard-branded cryptocurrency credit card. 

In fall 2018, Mastercard ranked third globally on a list ranking global entities by the number of blockchain-related patents they had filed to date.