Walmart Looking for a Crypto Executive per Recent Job Posting
Despite the market experiencing a significant downturn in recent months, demand for cryptocurrencies remains strong. As the cryptocurrency market regains momentum, a series of bullish events have aided the cause. According to a job posting on LinkedIn today, Walmart, America’s most ubiquitous retailer, is looking for a cryptocurrency product lead.
Walmart Hunting for a Crypto Product Lead
According to the ad, the company is ” seeking a visionary leader” to fill the position of “digital currency and cryptocurrency product lead.” The employee would formulate a digital currency strategy for the big-box retailer.
The role is looking for an “expert in Digital Currencies/Cryptocurrency and Blockchain related technologies,” who will “drive the vision for the product and capabilities roadmap.” The ideal candidate would also “identify crypto-related investment and partnerships,” per the ad.
The role is looking for an “expert in Digital Currencies/Cryptocurrency and Blockchain related technologies,” who will “drive the vision for the product and capabilities roadmap.”
The ideal candidate would also “identify crypto-related investment and partnerships,” according to the ad.
The job requires a Bachelor’s Degree (though an MBA is preferred), at least 10 years of experience in product or program management, technology commercialization, and knowledge of the cryptocurrency ecosystem and associated systems.
In the ad, it’s unclear which products the selected individual will work on. The job posting came weeks after rumors circulated that Walmart’s rival Amazon was planning a major entry into the digital currency market. Amazon is also looking for a digital currency and blockchain product lead.
Walmart’s Involvement With Crypto
This, however, isn’t Walmart’s first reported venture into crypto. Walmart sought a patent on a stable crypto token two years ago, comparable to Facebook’s Libra initiative at the time, but no further information has surfaced since.
Meanwhile, the chain of retail outlets owned by Walmart began using the blockchain-based rewards platform StormX in December of 2020. A 4% ‘cryptoback’ incentive was offered to customers who made a purchase at Walmart and used StormX.
Walmart has also used blockchain technology for non-financial applications including tracking pharmaceuticals and food across the supply chain.
Walmart launched Hazel, a fintech unit, earlier this year. Since failing to obtain a U.S. bank charter in the early 2000s, this was a hint at how the retail giant has maintained its appetite for getting involved in consumer finance.