The cryptocurrency market has attracted several heavyweight companies this year led by Elon Musk's Tesla Inc. His $ 1.5 billion investment in Bitcoin was enough to reveal the interests of institutions in a highly volatile market. The latest mega-company to enter the cryptocurrency market is the $ 2 trillion tech giant Apple Inc.
Although no official announcement has been made about it, the company dropped a clue on its latest job listing that it seeks to find the services of a business development manager. The Apple Wallets, Payments and Commerce (WPC) team is looking for someone to lead the Alternative Payment Partnerships.
According to the announcement, the potential candidate is required to have at least 5 years of professional cryptocurrency experience.
"More than 5 years of experience working in or with alternative payment providers, such as digital wallets, BNPL, fast payments, cryptocurrencies, etc".
The tech giant also expects the candidate to understand the complexities of cash flow, as well as relevant regulations, the industry standard, and the broad spectrum of FinTech products. The role description alludes to the fact that Apple may be considering a partnership in the crypto space.
Apple has shown flexibility for a couple of months when it comes to cryptocurrencies. A recent partnership has ensured that users can purchase Cardano (ADA) with Apple Pay, thanks to the integration of Simplex, an Israeli crypto fiat services provider. Apple Pay has more than 65 million users and provides direct crypto access to millions of users through Apple devices, wallets, and credit cards.
Apple has always been a fan of cryptocurrencies
Apple believes that emerging financial technology can have a major effect on people's lives.
"New ideas have a way of turning into extraordinary products, services and customer experiences that people couldn't have imagined before and now can't imagine living without them."
In 2017, Apple co-founder Steve Wozniak said that Bitcoin is a better standard of value than gold and the USD. He stated that only the finite supply of Bitcoin makes it different from the USD. In 2019, Apple Pay VP Jennifer Bailey also showed her support for cryptocurrencies and hinted at a possible move into the crypto space.
“We are looking at cryptocurrencies. We think it is interesting. We believe it has interesting long-term potential ”.
It is worth noting that the institutional move towards cryptocurrencies in the past two years is unsurpassed. Unlike the bull run of late 2017 and early 2018 that was caused by retail interest to a greater extent, recent moves are linked to the high rate of crypto adoption by institutions.