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Audio Streaming company, Spotify to open possibilities for crypto payments

Audio Streaming company, Spotify to open possibilities for crypto payments

As Black Rock’s CEO, Larry Fink rightly said that Bitcoin had gained the attention and imagination of many people. Although being a relatively small market, it has the power to reduce the dependence of dollar in the digital financial markets and globally. Moreover, cryptocurrencies are subject to increased traction over some time. According to the latest update, the audio streaming giant, Spotify aims to capture the payments markets by introducing crypto payments on its platform.

This was bought to notice by a job posting on “jobs.lever.co” by Spotify for the position of Associate Director of Payment Strategy and Innovation. The Associate Director candidature involves leading the Spotify’s payment strategy to Libra’s stablecoin project and the broader crypto ecosystem. Recently, Facebook’s Libra announced rebranding itself to “Diem” in a quest to gain worldwide adoption and avoid regulatory intricacies.

Critical Aspects of the Associate Director’s job role

Spotify aims to shortlist a candidate who can strategize a global payment strategy for the company. It involves meeting the needs and requirements of the stakeholders of the company. The Associate Director will analyze the current payment landscape to plan the future course of action to increase impact level for the company. The candidate will be further responsible for leading operations in tandem to Facebook’s Diem.

Furthermore, the candidate will scout out opportunities in modern tech finance, including blockchain technology, DLT, central bank digital currencies (CBDC), stablecoins, Cryptocurrencies and various virtual financial assets. Indeed, pushing innovations in the emerging and existing markets will be one of the significant aspects of hire. Additionally, it will involve closely monitoring the engineering, product and sales team to execute pre-determined strategies. Apart from this, upholding Spotify’s public reputations and maintaining crucial communications internally and externally will sum up to the latest aspect of the responsibility.

Pre-Requisites for Spotify’s Associate Director position

The expected candidate must understand the nitty-gritty of the blockchain and crypto space. One must hold extensive experience in strategizing solutions and fueling active participation in the space. Moreover, great analytical skills and decision skills would be most need to perform crucial operations for the company’s development. Hence someone from a Fin-tech background with in-depth knowledge about the crypto and blockchain sector will be the ideal hire.

With a substantial increase in blockchain and crypto companies, the demand for experienced individuals has fueled substantially. As they say, “It’s the people who work build the company”.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.