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Amazon has a new job posting for crypto



Amazon Web Services (AWS) is looking for a tech-savvy specialist in transaction processing, custody, and underwriting of digital assets in the cloud. This can be found in a current job posting on LinkedIn.

The company has decided to hire financial services expert to work with global financial institutions and innovative fintechs. Amazon wants the new employee to “transform the way in which digital assets, stablecoins, security tokens, asset tokens, and NFTs are handled.” The focus will be on pricing, execution, settlement, and custody.

A step by Amazon in the direction of the crypto industry has been expected by experts for some time. It was believed that the company would introduce some type of payment token. There was even speculation about an Amazon coin. This is due to previous job postings that alluded to such developments.

The decision to tailor the infrastructure to process and hold crypto transactions is seen as a smart move. Tech giant IBM is also taking similar steps towards cryptocurrency.

The job advertisement from AWS states:

In cooperation with our sales teams, solution architects, ISVs and system integrators, solutions for end-to-end underwriting of digital assets, processing of transactions and custody in the cloud will be developed for customers.

Amazon is showing more and more interest in cryptocurrencies

Amazon has been experimenting with cryptocurrencies for some time. AWS 'blockchain side shows that the company currently supports 25 percent of all Ethereum workloads worldwide. Ethereum (ETH) is the second-largest cryptocurrency by market capitalization.

More than 2,400 decentralized applications are based on the Ethereum blockchain. One of the fastest-growing areas in the Ethereum network is decentralized finance (DeFi) - an alternative to traditional banking that uses smart contracts for transactions.
Many companies are starting to take advantage of DeFi, such as lower transaction fees and access to global finance. By adopting cryptocurrencies, Amazon could save millions in credit card processing fees each year and reduce the risk of chargebacks.

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