Amazon Eyeing New Digital Currency Project Aimed At Mexico

A job posting has revealed that Amazon has been planning on launching a digital currency project in Mexico.

Per the listing, Amazon is “looking for a leader to help launch a new payment product starting with Mexico as the initial launch country. This product will enable customers to convert their cash in to digital currency using which [sic] customers can enjoy online services including shopping for goods and/or services like Prime Video.”

The listing did not specify the type of digital asset. It seems highly unlikely that Amazon would use any of the public cryptos such as Bitcoin or Ethereum. The listing stated that applicants should be comfortable with designing new systems with appropriate technology and native AWS technologies.

Amazon’s Digital and Emerging Payments division

The project will be worked on by Amazon’s Digital and Emerging Payments division which will launch in Mexico first. Another job listing did hint that the product looks to be broadly aimed at emerging markets. So other countries could follow as well.

This digital payments system will enable customers to convert their fiat to digital currencies. That they can then use to purchase online goods and services such as Prime Video.

All of this comes at a time when CEO Jeff Bezos announced that he will be stepping down by the end of this year. Bezos will move into the executive chairman role and give the reins to Andy Jassy, who is currently the CEO of Amazon Web Services. During his tenure, Amazon Web Services launched the Amazon Managed Blockchain service.

Amazon has yet to move into the cryptocurrency world, and doesn’t even allow PayPal as a payment for their services at this time. The move to Jassy as CEO could ultimately lead to some changes. But with many companies such as MasterCard and Tesla going that route. An Amazon move could be on the horizon as well, though it would undoubtedly have to make financial sense.