Mastercard Seems to Be All Set to Develop Its Own Crypto Wallet Platform

By August 5, 2019 Altcoins
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Photo: Shutterstock
Photo: Shutterstock

Mastercard incorporated trio job vacancies for its website, searching for pros in blockchain product management. The company is particularly anticipating creating a blockchain wallet solution, which will perhaps compete against Facebook’s Calibra.

Financial giant Mastercard appears to be warming up the efforts to design its blockchain/crypto products, according to multiple new postings on the job board of the company.

The job postings indicate that the company is scouting for individuals to occupy three senior senior-level positions. The positions include director of “product management-cryptocurrency wallets,” a director of “product development and innovation,” and a vice president for the responsibility of product management of Blockchain/Crypto.

Crypto Wallet Design by Mastercard

According to the post’s job description, the firm appears to be channeling its energy on creating “wallet solution” for cryptocurrency. Two of the job postings, the director of product management, and the VP position demands that the suitable candidate have prior experience in controlling cryptocurrency wallets, and specify that the duty includes:

“[Leading] the ideation, definition, design, and development of innovative cryptocurrency solutions, including wallet solutions.”

Unfortunately, no information was issued as to which altcoins the wallets would be constructed to contain, which platforms they will run on, or when they will exist.

However, a recent announcement by Mastercard that it would be one of the supporters of Facebook’s Libra project has made some analysts believe that the firm could be operating towards becoming a wallet provider for the Libra platform.

The Initial Mastercard’s Collaboration with Facebook

Just in case of any delay to launch Libra network in a timely fashion or ever, the blockchain wallet initiatives by Mastercard may somehow still be connected into Facebook.

After all, Facebook’s Libra promises humanitarian goals to offer affordable transaction alternative to unbanked people.

Before the launch of Libra, Facebook Messenger collaborated with Mastercard in early last year to assist small businesses, especially in Africa, to recognize electronic payments. Given that these dual companies have partnered in the past, another blockchain-related partnership could be in the future, with the presences or in the absence of Libra.

Blockchain-related initiatives by Mastercard first surface in 2017, when the firm announced that it was operating on creating its own blockchain.

Still, in 2017, Mastercard revealed that it was launching its blockchain for trials by merchants and banks. Majority of the 175 engineers that the firm recruited last year are professionals in the blockchain arena.

Meanwhile, Mastercard declines to respond to requests for commentary before the time of publication.

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