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Spotify Technology SA (NYSE: SPOT) is taking on a role in London or Stockholm related to its payment strategy – to drive activity related to cryptocurrencies of various shades and shades.
What happened: The Stockholm-based firm has posted a job posting, detailing the responsibilities the position entails, first spotted by Changpeng Zhao, CEO of Binance, who tweeted it.
Spotify is getting into #crypto.
»Spotify – Associate Director, Payment Strategy and Innovation https://t.co/VmI7PetjAb pic.twitter.com/eAxcPF8cgH
– CZ Binance (@cz_binance) December 4, 2020
Spotify’s requirements specify that the person in the role reports to the Director, Payments Strategy and Innovation and is responsible for “driving” Spotify’s business within Facebook Inc’s (NASDAQ: FB) Libra stablecoin project and “wider space for digital assets and cryptocurrency”.
The associate director will lead Spotify’s daily engagement with the Libra Association. The person will also “drive further consideration of new opportunities and innovation in the emerging ecosystem of distributed ledger technology, blockchain, cryptocurrency, stablecoin, central bank digital currencies (CBDC) and other digital assets.”
Because matter: Libra Association, now known as Diem Association, counts Coinbase, Lyft, Inc (NASDAQ: LYFT), Shopify Inc (NYSE: SHOP) e Uber Technologies, Inc (NYSE: UBER) among its members along with Spotify.
Cryptocurrencies such as Bitcoin (BTC) have garnered wider institutional appeal this year with PayPal Holdings Inc (NASDAQ: PYPL) e Square Inc (NYSE: SQ) gobbling up stocks of the apex cryptocurrency.
BTC has rallied nearly 169% since the start of the year, while Ethereum (ETH) has risen by nearly 368%.
Price action: Spotify stock closed on Thursday nearly 1.4% lower at $ 316.43 and gained 0.27% in the after-hour session.
Related link: Paypal CEO says he is making it easier to strengthen the usefulness of the cryptocurrency
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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