Share this article
Amazon Preparing to Launch a 'Digital Currency' Project in Mexico
Job postings describe a walled garden-type digital currency that could roll out in emerging economies.
By Danny Nelson
Updated Sep 14, 2021, 12:10 p.m. Published Feb 10, 2021, 11:46 p.m.
Make us preferred on Google
Amazon's grip on the internet economy appears to be coming for currency next, with the e-commerce giant preparing to launch a "digital currency" project in Mexico.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The yet-to-be-announced project, which Amazon sketched out across a series of recent job posts, appears to be an effort to keep lucrative Prime customers eternally plugged into Amazon's platform.
"This product will enable customers to convert their cash in to digital currency using which customers can enjoy online services including shopping for goods and/or services like Prime Video," one job post said of Amazon's "new payment product."
Amazon's Digital and Emerging Payments (DEP) division intends to roll out the product in Mexico first, the posting said. A second job posting hints the product appears to be broadly aimed at emerging markets. Amazon is hiring software development engineers "at all levels" to staff up for launch.
The DEP team and Amazon did not respond to repeated requests for comment.
It is not clear how much Amazon's planned foray into digital currencies has in common with "Amazon Coins." That 8-year old virtual currency initiative allows owners to transact in Amazon-issued cash across web games.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Crypto Markets Today: Largest tokens decline, with derivatives signaling caution ahead
Even though the Fed's decision to hold interest rates was widely expected, geopolitical tensions and a rotation into haven assets left crypto traders facing a sea of red.
What to know:
- Bitcoin fell and the CoinDesk 20 index dropped as a risk-off shift pushed investors into safe-haven assets.
- Crypto derivatives showed falling open interest, muted volatility and a growing bias toward protective puts and short positions.
- Optimism’s community approved a 12-month plan to use about half of its Superchain revenue for OP token buybacks starting in February. Still, the token fell.
Top Stories
