Apple is hiring a new business development manager focusing on alternative payments, in what has been seen as a sign that the corporation is shifting its focus to digital assets.
The internet behemoth advertised a position for a “Business Development Manager – Alternative Payments” to manage new collaborations and identify commercialization potential for digital assets on its recruitment website.
According to the job posting, the organization is looking for someone with at least 10 years of expertise in the area. At least five of those years spent working with alternative payment providers such as digital wallets, BNPL, Fast Payments, and bitcoin.
Thus far, Apple has been noncommittal on digital currency, with no intentions to expand into the realm of digital assets. However, crypto exchange Coinbase just surpassed TikTok as the most downloaded app on the App Store, indicating an increase in Apple device users using the bitcoin trading platform.
Apple has been rumored to be preparing to enter the digital currency market in recent months. Some speculate that the company may follow Tesla’s lead and add digital currency reserves to its financial sheet.
According to some analysts, such as Paul Steves of the Royal Bank of Canada Dominion Securities, Apple’s own digital currency exchange activities could dramatically disrupt the sector.
“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.”