Some new job listings suggest that payments processor PayPal may be moving into the cryptocurrency ecosystem.
The company has posted several job listings, including one for “Technical Lead – Crypto Engineer” and another for “Blockchain Research Engineer.”
Crypto jobs available
The “Technical Lead – Crypto Engineer” job requires more than 12 years of software experience with at least 4 years in C++ or Java. However, this position has since been removed by PayPal.
The Crypto Engineer will be responsible for “new initiatives for PayPal global with a focus on agility, time-to-market and innovation. The role includes designing, developing and maintaining key crypto products/features targeted towards availability, performance and scalability of PayPal services.”
The “Blockchain Research Engineer” position is part of the BRG (blockchain research group), which was newly created by PayPal within its Strategic Technology Enablement team. The BRG will focus on becoming experts with blockchain technology and how such technology can be used within PayPal.
The job listing notes that the BRG will “seek to understand the current and near-future state of blockchain technologies, their relative advantages and disadvantages, and their applicability to PayPal’s core and adjacent businesses.”
No requirements have been listed yet for the research engineer. Compensation for both jobs has not been posted either.
PayPal could make waves
If PayPal moves into cryptocurrency, the impact could be huge. The company boasts 305 million active accounts at the current time. Its services are used in over 200 markets across the world.
The payments processor had once been associated with the Libra, the upcoming stablecoin from Facebook. PayPal had been part of the Libra Association, the body that regulated and controlled the stablecoin.
However, PayPal dropped out of the Libra Association back in October 2019. At the time, the company said it chose “to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations.”
Sources reported that the company was not comfortable with the increasing backlash against the Libra from national governments and the financial sector.
While PayPal chose to leave the Libra Association, it does appear that the company is quite interested in the benefits that blockchain technology and cryptocurrency can offer it. Perhaps more job openings will soon be listed, causing more details to emerge.