Apple is recruiting a new business development manager with a specialty in alternative payments, in a move that has been read as an indication the company intends to move towards a greater emphasis on digital assets.
The tech giant posted a job ad to its career website, seeking a “Business Development Manager – Alternative Payments” to lead new partnerships and define opportunities for commercialization of digital assets.
The job post outlines that the company is seeking someone with at least 10 years of experience in the field, of which at least five should have been served “with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency.”
Apple has so far remained non-committal on digital currency, with no plans set out for expansion into digital assets. However, cryptocurrency exchange Coinbase recently overtook TikTok as the most downloaded app on the App Store, indicating a surge in use of the cryptocurrency trading platform among Apple device users.
Speculation has been running high in recent months that Apple may be preparing to enter the digital currency sector, with the suggestion the firm could follow Tesla in opting to add digital currency reserves to its balance sheet.
Some analysts, including Paul Steves of the Royal Bank of Canada Dominion Securities, said Apple could significantly disrupt the industry with its own digital currency exchange operations.
“If [Apple] decides to enter into the crypto exchange business, we think the firm could immediately gain market share and disrupt the industry. The firm could unlock a multi-billion dollar opportunity with a few clicks.”
Apple will begin scrutinizing applications for the role, before beginning to explore opportunities for commercial partnerships in and around the digital currency space. Apple is the largest traded company in the United States, with a $2.1 trillion market cap.
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