Sometimes it’s a good business insight to read between the lines of the job ads that you see prominently displayed on the Internet.
This morning, Marie Huillet at Cointelegraph is reporting on some job listings posted August 2 from the MasterCard company.
A look at the internal website shows the company is looking for, among other things, a Director of Product Management of cryptocurrency wallets, and a VP of Product Management for blockchain/crypto, as well is a Senior Engineer (blockchain), a Software Engineering Lead (blockchain) and a Director of payments platform and networks.
What does all of this hiring say about the traditional credit card company?
According to analysts, it’s one of two tracks – either MasterCard is going to continue to participate in other’s stablecoins, or it’s going to make a play for its own.
Early news on Facebook’s Libra stablecoin shows that MasterCard is one of several companies pumping $10 million into the project to become a founding member or node holder that will help administrate that stablecoin.
That in itself could be driving the talent acquisition at MasterCard, but others suggest the company may be wanting to develop its own version of a digital asset a la JPM coin.
“(The hiring news) leaves open the question of whether or not Mastercard plans to embark on a roadmap as a crypto wallet solutions provider to partner projects such as Libra, or potential other entrants into the crypto space,” Huillet writes.
Here’s what the job ad says for the Senior Engineer job advertised for Dublin, Ireland:
“Our team is built on a foundation of research and development, mining innovation internally, innovating new product lines with emerging technology, managing new products from inception to market validation and engaging strategically with startups to shape the future of commerce with and for our customers.”
In some ways, there’s no more concrete tell-tale sign than job advertisements that show the company is sourcing talent. These are rarely false flags, as they require significant investment and are fairly targeted. When you see a big company like this hiring a battalion of blockchain related professionals, you know that something is in the works.
