- Apple is looking for experienced executives for the role of Business Development Manager to negotiate in potential digital payment and cryptocurrency collaborations.
- Tech giants like Tesla, Microstrategy, and SquarePay have already joined the crypto bandwagon.
- Speculations about Apple entering the digital currency space have been gaining momentum over the past few months.
In a significant development, indicating the growing inclination among traditional corporate powerhouses to incorporate crypto services, the Apple Wallets, Payments, and Commerce team have been reported to be seeking an experienced Business Development Manager specializing in Alternative Payment Partnerships.
While elaborating on the requirements of the role, Apple asked for more than ten years of experience, including a five-year track record “with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency”. The new hire will also be responsible for defining new commercialization streams for the company.
What Does This Move Signal?
While Apple is yet to come up with any robust plan on how it intends to cater to the crypto industry, the job advertisement says that the new hire would be responsible for “identifying key players and managing relationships with strategic alternative payment partners.”
One would not be wrong to assume that Apple is keen to form new partnerships with existing digital currency and payments players and launch new programs.
Some industry experts are also seeing this development in the context of the growing speculation about Apple entering the world of digital currencies. Such speculations have remained rife for the past few months. Not all these speculations can be negated.
There is a growing trend among big-techs to proactively enter into the crypto space. Tesla, Microstrategy, SquarePay are examples of businesses that have proactively entered the crypto space with Bitcoins occupying a noticeable segment of their balance sheet.
Being a pioneering name in the history of the 21st-century technological revolution, Apple has the potential to change the rules of the game of such a nascent, tech-based industry such as crypto. It has the financial strength to expand its presence over any industry within a short period.
With $192.8 billion in cash on hand during its most recent earnings quarter and a market capitalization of $2.1 trillion, Apple remains the largest company traded in the United States.