Contrary to direct resistance toward crypto and its underlying technology, banking giants have begun infusing similar offerings as a differentiator. MasterCard, the multinational financial services corporation has openly listed three senior-level positions to lead efforts in cryptocurrency, focused on payments and wallets solutions.
Based on the official post, the financial giant is set out to fill two Director positions for “Product Development & Innovation – Blockchain Solutions Architect” and “Product Management – Crypto Currency/ Wallets”. Additionally, MasterCard will also appoint a VP for the “Product Management – Blockchain/Crypto” department. Interestingly enough, the job descriptions for the aforementioned posts highlight the following,
“(The applicant) will use his / her payment and crypto-currency expertise in identifying new opportunities, and work with a cross-functional team comprising of Franchise, Compliance, Regulation, Products, Labs, Regions and Technology to develop new products and solutions.”
Moreover, the job requirement also stresses on the requirement of “experience in managing cryptocurrency wallet products.” Previously, MasterCard grasped the attention of crypto community by becoming a part of Facebook’s unlaunched blockchain project – Libra.
MasterCard’s management team will be responsible for monitoring cryptocurrency market trends and the latest technological developments in order to formulate the company’s strategies. It is important to note that the company is also focused on hiring blockchain engineers and analysts with blockchain knowledge.
With a strong business framework and global presence, MasterCard is moving towards the development and planning and project management to launch its wallet. As the race to become the leader of cross-border transactions is accelerating, MasterCard seems to maintain its relevance through experimentation of new payment network.