Amazon set to launch its own digital currency

Amazon is laying the groundwork for a new digital currency for use on its own platforms and marketplaces, new job listings suggests.

The e-commerce and cloud computing giant put out a call for talent to join its Digital and Emerging Payments (DEP) division, which is in the process of developing a system whereby customers in emerging markets can “convert their cash into digital currency”.

“[Using the currency], customers can enjoy online services including shopping for goods and/or services like Prime Video,” wrote the firm.

As per the job listings, which have since been removed, the project will launch first in Mexico, but could later expand into other nearby territories if successful.

It is unclear whether the digital currency under development will tie in with the existing Amazon Coins project, which allows customers to make savings on purchases made via Kindle and Fire devices.

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Source: Amazon set to launch its own digital currency | TechRadar