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Spotify Job Listing Hints at Crypto Payments Coming to Its Platform

| Updated
by Bhushan Akolkar · 3 min read
Spotify Job Listing Hints at Crypto Payments Coming to Its Platform
Photo: Depositphotos

Despite the regulatory scrutiny, Spotify has shown willingness to work with Facebook on its Diem project (previously Libra). Besides, the job posting also hints at the company’s willingness to work on the CBDC developments in the crypto industry.

As per its latest job postings, audio streaming giant Spotify Technology SA (NYSE: SPOT) is looking to hire for the post of “Associate Director, Payments Strategy and Innovation”. Interestingly, the Spotify job posting also mentions that they are specifically looking for someone with crypto background.

The digital currency revolution is happening now. Central banks worldwide have advanced their developments of CBDCs. On the other hand, payment companies like Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) are making important partnerships to facilitate crypto payments over their massive global network.

It seems like Spotify wants to prepare itself for the crypto transition beforehand. The new job posting also expects the candidate to play a key role in defining and implementing Spotify’s payments strategy. Besides, it also involves working with big players like Facebook Inc (NASDAQ: FB) who recently rebranded their crypto project Libra to Diem. Apart from this, the position will also require focusing on the broader crypto industry developments. The announcement reads:

“You will lead Spotify’s day-to-day engagement with the Libra Association. You will drive further consideration of new opportunities and innovation in the emerging ecosystem of distributed ledger technology, blockchains, cryptocurrencies, stablecoins, Central Bank Digital Currencies (CBDCs) and other digital assets”.

This position is currently open in London or Stockholm. It might also require frequent travel between the two offices as well as the company’s other locations.

Spotify’s Big Push in Europe

The audio streaming giant is currently putting a large focus on expanding its footprint in Europe. Back in September 2020, Spotify CEO Daniel Ek said that he will be putting a massive $1 billion from his personal for advancements in Europe’s tech sector.

“I get really frustrated when I see European entrepreneurs giving up on their amazing visions selling early on to non-European companies, or when some of the most promising tech talents in Europe leaves because they don’t feel valued here,” he said.

It looks like the company is working in line with the CEO’s vision and tap into Europe’s talent pool in the tech space. On Wednesday, Spotify also launched its 2020 Wrapped that consists of an annual selection for personalized user preferences in music, songs, genres, and podcasts. The Spotify Wrapped is the users’ personalized experience derived from tracking the user activity on the platform.

Just like many other tech companies, Spotify has a phenomenal 2020 as its subscribers base hit new highs. SPOT stock is trading at over 100% premium year-to-date.

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