According to Insider, Amazon plans to accept Bitcoin payments this year


An anonymous source at Amazon has reportedly told London business newspaper City A.M. that the e-commerce giant plans to accept Bitcoin (BTC) payments by the end of 2021, potentially creating the conditions for wider mainstream acceptance of crypto transactions.

“This is not just about setting up cryptocurrency payment solutions at some point in the future – this is a broad, well-discussed, integral part of the future mechanism for how Amazon will work,” the anonymous source told City AM, according to a report released on Sunday

Related articles

Related: Bringing the Crypto Payment Ecosystem Around the World: Ray Youssef

She pointed out that while Bitcoin was the first step in Amazon’s crypto ambitions, the company’s executives were keen to add other established cryptocurrencies in the future. The “guideline comes from the top,” referring to Jeff Bezos, she said, adding:

“This entire project is as good as operational.”

In addition to accepting bitcoin payments, Amazon is also looking to create its own cryptocurrency, possibly as early as 2022, she said.

Speculation about Amazon’s entry into the cryptocurrency market has been raging for days after a new entry for “Digital Currency and Blockchain Product Lead” appeared on the company’s job exchange last week. According to the job description, the new employee will help develop Amazon’s digital currency strategy and product roadmap. The position requires strong domain expertise in blockchain, distributed ledgers, central bank digital currencies, and crypto in general.

Related: Countries that account for over 90% of global GDP are researching CBDCs

This is not the first crypto-focused job posting on Amazon. As reported by Cointelegraph, the e-commerce giant recruited a technical manager in February to help develop its new Digital and Emerging Payments platform.