Irish-American digital payments giant Bandaged is looking to hire a team of engineers for its crypto operations, in what could be a significant development for the crypto industry.
There are several reasons why Stripe’s jump into crypto can prove beneficial to both him and the Cryptoverse. This could allow the company to take advantage of its rapidly increasing transaction volume. An estimation got by Forbes says the company processed between $ 200 billion and $ 250 billion in transactions in 2019, and grew 50% last year.
In addition, last March, Stripe noted it has raised some $ 600 million in funding at a valuation of $ 95 billion to stimulate its expansion in Europe and support the company’s growing demand for services from major players.
Additionally, the company is reportedly considering going public next year.
Through Bloomberg, Stripe has been one of the most anticipated listings in years and is said to be one of the largest privately held companies to ever go public. Therefore, it could become another public giant that provides investors with indirect exposure to the crypto market.
At this point, this 11-year-old giant is also keen to enter the crypto industry, as they are looking for a staff engineer for their “brand new. [crypto] team.”
“As a team engineer, you will design and build the core components we need to support cryptography use cases, as well as new 0 to 1 development experiences. on everything from web / mobile user interfaces [user interfaces] backend, payments and identity systems ”, the job posting said.
At least four employees will be supervised by Guillaume Poncin, who previously headed the company’s engineering for banking and financial products.
Stripe says he’s looking for engineers with experience in the crypto space, “who are invigorated by the opportunity to have a major impact on how users interact with crypto.”
John Collison, co-founder of Stripe, commented that the company team started writing code the year after the Bitcoin (BTC) white paper was released, and while they “have always kept an eye on things,” developments in recent years years, such as Layer 2 stacks, new blockchains, stablecoins, and decentralized finance (DeFi) were “particularly exciting” – and prompted Stripe to increase its exposure to crypto.
The announcement was praised by Brian Armstrong, co-founder and CEO of crypto exchange Coinbase, who tweeted it was “exciting to see” how “every big fintech company is now doing something with crypto.”
“And most of the large social enterprises (Twitter, Reddit, Facebook). The game is next, ”Armstrong predicted.
That said, some Twitter users remained skeptical of Stripe’s crypto plans.
“You ended support for Bitcoin because you saw it as“ less useful for payments ”and more“ an asset than an exchange. ”Taking that back up, how do you envision creating products that focus on online monetary transactions without taking over the asset? ” demand user ‘joshmay.eth’, referring to Stripe announcement from January 2018.
The full-time job posting does not specify the salary range for new Stripe employees, but it does indicate that applicants must have a solid technical background including at least 10 years of design and engineering experience. large-scale systems. The positions available are based in Seattle, San Francisco or New York, remote work is only permitted in North America.
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