Mastercard assembles its Crypto Team to get in the game

Reports have emerged that Mastercard, one of Facebook’s Libra coin partners, is now putting together a cryptocurrency team of their own. This comes as a result of pressure big payment companies are experiencing from the current development of the digital money driven by the recent steady momentum cryptocurrency seems to be gaining. 

Mastercard’s New job ads

The desire to work with cryptocurrencies and the intersection of payments is one of the main things they are looking for in their recruits. The hired recruits will keep an eye on the trends in the cryptocurrency ecosystem along with working on developing new products as well as solutions to existing problems. According to their career website, they need a senior blockchain engineer, engineer lead, director for product development and innovation vice president for product management and director of product management for cryptocurrency and wallets, among others.

Mastercard more than a Card Company

Experts think this is a smart move for Mastercard. According to Tedd Rossman, creditcards.com analyst, he believes this move by MasterCard will not only brand it as a card company but also a technology company. Bill Hardekopf, CEO LowCards.com stated that given the amount of activity going on in the crypto space, it is essential for MasterCard to have a crypto team of people who understand the technology to monitor what is happening in the crypto space even if they do not plan on having their cryptocurrency.

Mastercard is a tentative supporter for the upcoming launch for Facebook’s, Libra who has partnered with various companies, PayPal, Uber, Coinbase, Lyft, Vodafone, eBay, Spotify, and Mastercard rival Visa. All these partners are involved with Libra on its intention to create a global, digital, reserve-backed cryptocurrency. Facebook is actively recruiting personnel for their Calibra; however; they allow competition of wallets in the Libra ecosystem.

Vice president Seth Eisen stated that Mastercard is on a mission to find new ways to create value, blockchain technology and cryptocurrency is one of their means of creating value.