Amazon Bitcoin Acceptance Rumors Gather Pace

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  • Amazon plans to accept Bitcoin as payment by the end of the year, a new report reveals.
  • After Bitcoin, the company would add Ethereum, Cardano, and Bitcoin Cash.
  • Amazon also aims to create a native token.

Amazon recently posted a job ad looking for a “Digital Currency and Blockchain Product Lead.” The ad explicitly mentioned that the company needs a suitable profile capable of producing a blockchain roadmap as well as a digital currency for Amazon.

The ad-seeking post was under the category of “Payments Acceptance & Experience team” of the company, which suggested that the firm aims to accept digital assets as a form of payment. “The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap,” the ad read.

Just recently, Insider confirmed the ad after reaching out to Amazon and further added that the firm will finally accept cryptocurrencies as a payment method. While the report was pretty promising, it did not mention a timeline for the project. However, sources now claim Amazon may start accepting crypto as soon as this year.

Amazon to Accept Bitcoin in 2021?

The business-focused London newspaper City A.M. quoted an anonymous insider from within Amazon and affirmed that Amazon could accept Bitcoin as payment by “the end of the year.” The insider asserted:

This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.

The insider further added that Bitcoin would be the first cryptocurrency to be accepted as payment. “It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself,” she said.

In total, Amazon would accept eight of the most popular crypto-assets, including Ethereum, Cardano, and Bitcoin Cash. Reportedly, Amazon has been working on this project since 2019, which means the final rollout can be very close. “It won’t take long because the plans are already there, and they have been working on them since 2019,” the insider said.

Apart from accepting crypto as payments, it turns out Amazon is quite serious about its plans to launch a native token. The insider confirmed that Amazon’s native token would be the next mission as soon as the crypto payments are lined up. “When all these crypto ducks are lined up, there’s another twist to push things even further into Amazon’s favour – a native token,” she said.

While Amazon hasn’t officially predicted a date for its acceptance of crypto, 2021 is quite a probable timeline. For one, the company has posted several crypto and blockchain-related jobs. Furthermore, a couple of days ago, the company confirmed that they would “bring [cryptocurrencies] to Amazon customers as soon as possible.”