Amazon Will Integrate Bitcoin Payments and Launch Its Own Token by 2022, Insiders Confirmed

Rumors that Amazon may be exploring crypto and bitcoin payments are growing. According to their job posting, the e-commerce giant is seeking a Digital Currency and Blockchain Product Lead.

According to Bitcoinist, Amazon is looking for someone who can "innovate in the payments and financial systems" and would like to have them as part of their Payments Acceptance & Experience Team.

The crypto Product Lead will need to work with other departments to develop a strategy and vision.

Amazon would thus gain leadership buy-in for these capabilities. This job requires customer experience, reference services, and a complete technical support strategy.

City A.M. reports that an "insider", who has been confirmed by Amazon, said that Amazon plans to launch Bitcoin and other crypto payments before the end of this year. The e-commerce giant could also launch its own token in 2022.

According to an insider, Amazon has a plan beyond their Digital Currency and Blockchain Product Lead jobs. According to the source:

This isn’t just about setting up cryptocurrency payment solutions in the future. It is an integral part of the future Amazon system.

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According to the insider, the project is approved by Jeff Bezos, Amazon's founder and executive chairman.

It starts with Bitcoin - This is the first major stage of the crypto project and the directive comes from the top...

The project is "pretty much ready for roll" and will begin with Bitcoin, but it will not be limited to that currency. Amazon executives appear to be keen to explore payment options with other cryptocurrencies within the top 10 by market capitalization. Once they have "established a secure and fast method for crypto payments," the second phase will be launched.

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Next, Ethereum, Cardano, and Bitcoin Cash will be in line to bring eight of the most widely used cryptocurrencies online. They have been working on the plans since 2019 and it won't take too long.

The creation and launch of a native Amazon token will be the final stage. According to reports, the company has been using cryptocurrencies to purchase goods for over a year now and is now ready to move towards "tokenization".

The multi-level infrastructure can then be used to pay for goods or services, and earn tokens through a loyalty program. It's pretty much it. However, you can be sure that the Bitcoin plan will continue to be closely monitored as Amazon explores opportunities for its own crypto.

Amazon has yet to make an official statement about its crypto project. Any speculation or rumor should be treated as such until official confirmation.

Bitcoin trades at $34,003 as of the writing. The daily chart shows a 7.6% profit.