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Mastercard Seeks to Hire Three Executives to Help in Developing Crypto Wallet Solutions

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Mastercard adds crypto-related job positions

Mastercard, an electronic payments firm has started eyeing the crypto wallet sector. According to the company’s job board, it aims to fill three senior-level positions. These hires would help the firm begin its journey into the crypto sector where it would focus on crypto payments and wallets solutions.

Per the job board, the open positions include,

  • Director of product development and innovation – blockchain solutions architect
  • Director of product management – cryptocurrency/wallets
  • Vice President in the product management of blockchain

The job descriptions stated that the new officials would work with a cross-functional team in creating blockchain products and solutions. This team would consist of individuals with experience in franchise, compliance, regulation, products, labs, regions, and technology.

Mastercard Could be Building a Crypto Wallet

Two of the job postings mention that the new hires would specifically lead to the creation of wallets solutions. This task would be part of the firm’s wider blockchain project. The two roles are the VP and director of product management. The applicants of this positions must have experience in managing crypto wallet products.

The firm did not unveil which crypto coins the wallets would hold. Also, Mastercard did not disclose the platform the wallets would run on or when they would go live.

Nonetheless, Mastercard’s recent partnership with Facebook in the Libra project has seen analysts note that the firm is working on becoming a wallet provider for Libra. According to publication, this move would see the payments firm create a wallet solution that competes with the Calibra wallet. 

Libra’s Development Issues Might Not Affect Mastercard’s Blockchain Project

While the Libra project has hit snags in its development, it might not affect Mastercard’s blockchain initiative. This is because the firm’s wallets could still be linked with another Facebook project.

Before Libra, the two firms teamed up in the past year in a payments project. In this initiative, Mastercard and Messenger would work together to help small African and Asian businesses accept electronic payments. In so doing, the firms aimed to help the traders expand their businesses and better their livelihoods.

Seeing that the two firms have already worked together on two projects, Libra success will not determine the fate of Mastercard’s blockchain project. Reportedly, the two firms could come together once again in another blockchain deal even if Libra fails.

Other than the three executive positions, Mastercard is also hiring blockchain engineers and analysts. The organization has been working on creating its blockchain network for years. In 2017, the company revealed that it would launch its blockchain, letting banks and traders experiment with a new payment network. In the past year, the firm hired 175 engineers, some of which were blockchain experts.

Do you think Mastercard’s crypto wallet solutions are meant for the Libra network? Let us know in the comments below.

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