Amazon’s Stealth Crypto

Amazon appears to be gearing up for a move into cryptocurrencies.

E-commerce giant Amazon shows signs that it is entering the crypto fray. A series of job posts by the company reportedly mention a new digital-currency payment product to be launched in Mexico.

Citing details from the posts, Coindesk, a cryptocurrency news service, says the new currency would “enable [Amazon] customers to convert their cash into digital currency for online services including shopping for goods and/or services like Prime Video.”

Amazon hasn’t made it official, but cryptocurrencies like Bitcoin are huge in Mexico, so giving customers the option of converting cash into a digital currency for online shopping would make sense for an e-commerce marketplace. Trading on Mexico’s main Bitcoin exchange, Bitso, is reported to have skyrocketed in 2020, with making more than 4 million payments using crypto.

Andy Jassy, currently head of web services and due to succeed Jeff Bezos as CEO later this year, is said to be “crypto curious.”