Online retailer Amazon has just published a series of job posts suggesting the giant plans to launch a "digital currency" project in Mexico. appears to be an effort to keep lucrative Prime customers eternally plugged into Amazon’s platform.
The project, which has not yet been officially announced by the company, appears to be aimed at maintaining the loyalty of the platform's Prime customers in Mexico.
“This product will enable customers to convert their cash into digital currency using which customers can enjoy online services including shopping for goods and/or services like Prime Video,” one job post said of Amazon’s “new payment product.”
The company made no mention of blockchain technology or crypto assets in the post, but with its news project appears to be targeted at least initially potentially unbanked customers in developing countries, many of whom are out of the reach of its current range of services.
Amazon is a major player in eCommerce, logistics, streaming but does not have a stronghold in the digital currency world. The recent job postings show Amazon is looking to change that by launching its digital currency project.
Amazon is yet to announce the launch of the project, and it is still unclear if there is a connection with the Amazon Coin. Amazon launched the Amazon Coin in 2013 to allow Kindle and game users to pay for goods and services.
It looks like the company's Digital and Emerging Payments (DEP) division has chosen Mexico for the initial launch of this new product.
While a large number of online merchants already accept cryptos as a payment method, the fact that Amazon starts to accept digital currencies would be a major revolution considering the company's huge user base.
Tesla is the latest to enter the digital currency space after investing $1.5 billion in Bitcoin and allowing its customers to pay for goods and services using the cryptocurrency. More corporations could adopt similar methods over the coming months as cryptocurrencies slowly gain mainstream acceptance.