Spotify Hints Launch of Crypto Services

Major music streaming platform, Spotify is planning to jump into the cryptocurrency arena and is looking for an associated director who can handle its business in that area.

Spotify is already a member of Diem Association, the non-profit created by Facebook for launching its ambitious stablecoin Libra. Previously known as the Libra Association, the Swiss organization was recently rebranded.

According to a recent job post, Spotify is looking for an associated director for overseeing its Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term strategy and innovation efforts.

The person will lead the Swedish startup’s day-to-day engagement with Diem and will also be responsible for Spotify’s other payment strategy, including its plans in the ‘wider digital asset & cryptocurrency space’.

“You will drive further consideration of new opportunities and innovation in the emerging ecosystem of distributed ledger technology, blockchains, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, stablecoins, Central Bank Digital Currencies (CBDCs), and other digital assets,” the job advertisement noted.

Another Tech Giant Moving for Crypto

Launched in 2008, Spotify has become one of the leading global music streaming platforms with around 320 million active monthly users. Apart from music, the company is expanding its services with other audio streamings like podcasts.

Though the Swedish startup did not specify anything on digital currency services many crypto industry leaders are pointing out that possibility.

? Spotify getting into #crypto.

» Spotify - Associate Director, Payments Strategy & Innovation https://t.co/VmI7PetjAb pic.twitter.com/eAxcPF8cgH — CZ Binance (@cz_binance) December 4, 2020

“You will make use of Spotify's global footprint to seek out innovation in the payments domain globally as well as emerging regulatory & market trends that could influence Spotify's approach to payments,” which the streaming platform wants from the new hire.

“You will evangelize the payments strategy & capabilities internally and externally to all key stakeholders and help to build and lead a communications plan to help build Spotify’s reputation as a market leader in payments.”