Mastercard Looking to Develop Cryptocurrency and Crypto Wallet

Mastercard Looking to Develop Cryptocurrency and Crypto Wallet

August 5, 2019         Written By John H. Oldshue

Mastercard is aiming to build a cryptocurrency development team, according to the company’s active job listings. The jobs include vice president of project management for blockchain/crypto, as well as a director of project management for cryptocurrency and wallets.

These listings hint at a future for Mastercard in the crypto market. In both posts, the job information says, “Do you have the desire to work at the cutting-edge intersection of payments and crypto-currencies?” The chosen applicants will “monitor crypto-currency ecosystem trends” and ” work with a cross-functional team…to develop new products and solutions.”

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Mastercard is a member of the Libra Association, along with Visa, PayPal and other payments providers. This group aims to create a “global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology.” While most digital currencies lack a physical backing, Libra will be supported by real assets within the ‘Libra Reserve.’ Facebook recently put out separate job listings, seeking professionals to work on the development of Libra.

Walmart may also be looking into the crypto market. The company filed for a patent for a digital currency, which has now been deemed ‘Walmart Coin.’ Like Libra, Walmart Coin is backed by a stable currency, which in this case is the U.S. dollar. Both currencies are aimed at the unbanked and underbanked.

The information contained within this article was accurate as of August 5, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About John H. Oldshue

John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.