Since the beginning of this year, crypto has grown in popularity due to its enormous potential and great profits. Following the genuine utility of digital assets, several businesses are incorporating relevant services. Moreover, a growing number of businesses have begun to accept cryptocurrency as payment. Amazon Web Services (AWS) has recently signaled to the globe that it appears to be joining the cryptocurrency bandwagon. The cloud services company, in particular, wants to move cryptocurrency settlements and digital custody assets to the cloud.

In a recent post, Amazon Web Services (AWS) released a job posting where it noted that it is seeking a special candidate who can help kickstart digital assets underwriting, processing of transactions, and custody in the cloud.

Amazon Seeking Specialist 

Amazon intended to hire a Financial Services Specialist to collaborate with  financial institutions and innovative fintech and “transform the way they transact digital assets (ex. cryptocurrencies, CBDCs [central bank digital currencies], stablecoins, security-backed tokens, asset-backed tokens and NFTs [non-fungible tokens]) from price discovery to execution, settlement, and custody.”

Amazon Finally Embraces Crypto

According to prior job posts, Amazon’s much-anticipated entrance into digital assets would involve some form of payment token, dubbed “Amazon coin.” Meanwhile, AWS’s decision to tailor its infrastructure to things like cryptocurrency transaction processing and custody, which IBM is also undertaking, will likely be recognized as a sensible move. In the job ad, AWS noted that the candidate would be ” working hand in hand with our sales teams, solution architects, ISVs and systems integrators you will help deliver the solutions that move customers towards end-to-end digital asset underwriting, transaction processing, and custody in the cloud.”

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Amazon Previously Hinted at Crypto Involvement

In July this year, Jeff Bezos sent the crypto community into a frenzy after reports emerged that Amazon was considering accepting payments in crypto, which other firms like Apple and Tesla hinted at implementing.  The company noted that it was looking for a crypto expert to help lead the campaign. A representative from Amazon said, ” We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments.

The news of Amazon’s invasion of the crypto space excited several years as they anticipated a boost to platforms like Bitcoin and Ethereum. Bitcoin has been hitting new highs, and several experts believe that this is down to the massive adoption crypto is gaining across the world. Co-Founder and COO at the global payment network, Mercuryo, Greg Waisman remarked that Tesla’s initial announcement of accepting Bitcoin for its products helped contribute to taking Bitcoin to its all-time high in the second quarter of the year. He noted that if similar impacts were to be replicated by Amazon’s foray into the crypto space, then a rejuvenation can be expected.

In his words, “Should this impact be replicated when Amazon fully embraces crypto payments, we can begin to see a rejuvenation from the current sell-offs, and growth towards new price levels not seen in months.”