Global software giant Apple is looking for a new business development manager specializing in alternative payments. This is signaling that the iPhone maker is moving towards digital assets. So, is Apple interested in cryptocurrency lead future?
Apple publishes a list of jobs and crypto is on the list
A new post for “Business Development Manager – Alternative Payments” was announced on Tuesday on Apple’s career website. The newcomer will be responsible for leading alternative payment partnerships and defining new streams of commercialization.
Apple is looking for a business professional with more than ten years of experience. This includes a five-year record of operating “with alternative payment providers”. Such as digital wallets, BNPL, Fast payments, cryptocurrencies, and more.
Will Apple settle in the cryptocurrency world?
Apple is one of the wealthiest companies in the United States and worldwide. It is becoming one of the first technology companies to receive a $1 trillion value.
It is a traditional technology company with a firm belief in the US dollar. The chances of their cryptocurrency integrating seem exaggerated. Still, a new report could be a possible start in this direction.
While job posting is a compelling step, Apple remains mainly on the fringes of the cryptocurrency industry. It has yet to show definitive plans to expand into the market. Interestingly, the Coinbase cryptocurrency exchange has recently overtaken TikTok as the most downloaded app on Apple’s App Store.
Speculation about Apple’s entry into the digital currency space has stirred waves in recent months. This as investors watch Tesla add billions of dollars to its Bitcoin (BTC) strategic reserves.
In addition to simply adding BTC to its balance sheet, Apple could be in a position to permanently disrupt the nascent industry by entering crypto bourses. This according to Paul Stevens, an analyst at Royal Bank of Canada.
“If [Apple] decides to enter the cryptocurrency business, we think the company could gain market share immediately and disrupt the industry”. Steves said in February. “The company could unlock a multi-billion dollar opportunity with a few clicks.”
With a market capitalization of $2.1 trillion, Apple remains the most significant company traded in the United States. The company had cash gains last quarter of $192.8 billion, down from $207.06 billion in the previous quarter.
Could a bull run of Bitcoin cause Apple to develop its own cryptocurrency?
The impact of Apple’s cryptocurrency would be huge. It would probably meet with as much resistance as Facebook. On the other hand, Apple would be a boon for its adoption and usability. This by supporting the crypto, potentially within its wallet system.
Therefore, nothing in the job ad from the technology giant seems to suggest such a plan. Although, Apple’s mention of cryptocurrencies is as exciting as it can be.
The company has never supported cryptocurrency. It has instead practiced waiting tactics, while competitors like Samsung have recently jumped on the bandwagon.
Apple’s plans can change at any time. It is well known to get into the game with a delay. This to disrupt the way things used to happen by introducing something super easy, and it just works. When Apple gets involved in cryptocurrencies, adoption can be accelerated like never before.
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