Fintech

Why Amazon’s crypto bet isn’t about bitcoin — it’s about banks

Central bank digital currencies are on the horizon, and Amazon is taking notice

A statement from an Amazon spokesperson later dampened those hopes of one day being able to pay for your electronics with bitcoin, labelling the speculation on its future plans as ‘not true’
A statement from an Amazon spokesperson later dampened those hopes of one day being able to pay for your electronics with bitcoin, labelling the speculation on its future plans as ‘not true’ Photo: Ronny Hartmann/Getty Images

Though blockchain has long been on its agenda, Amazon’s entry into digital currencies as the world’s largest online retailer has taken the fintech sector by storm.

Media outlets spotted that the e-commerce giant posted a job advertisement for a digital currency and blockchain specialist late last week, prompting a fury of speculation over whether Amazon might soon consider accepting crypto for payments or develop its own token.

WSJ Logo