Payments giant Mastercard is signaling a deeper push into decentralized finance (DeFi) by hiring a “Director Crypto Flows, Product Management”, in a quest to dig deep in DeFi payments infrastructure.
The role will probably involve working on the expansion of how digital assets can be integrated with the traditional payment infrastructure. The new hiring is a reflection of the company’s expanding ambition to connect the conventional financial system with the Web3 ecosystem, as opposed to just facilitating crypto payments on the surface level.
The new hiring also comes at a time when Mastercard has tried to put a put forward in crypto expansion, competing with others in the sector.
Roles and responsibilities of the new person
According to the job description, the executive will oversee card-based crypto on-ramps, systems that allow users to buy digital assets directly using payment cards.
Additionally, they will likely help develop stablecoin-linked card issuance. The move suggests Mastercard is working toward making stablecoins function more like everyday payment instruments within its global network.
The job also includes checking and adjusting payment flows related to stablecoins, tokenized assets, and DeFi apps.
In real life, the new position is about building infrastructure that can handle more transactions as blockchain-based financial services become more popular with businesses and consumers.
Another significant responsibility is the enhancement of the internal network rules and risk management for Web3 transactions on Mastercard.
Since decentralized platforms function in a different manner compared to traditional banking infrastructure, it is likely that the company is developing tools for compliance, fraud, and settlement related to blockchain activity.
In general, the recruitment of the new employee is an indication that Mastercard is preparing for the future of digital finance, where stablecoins, tokenized assets, and decentralized applications interact with the global payment infrastructure.
Mastercard bets on regulated bridges between DeFi and traditional finance
Mastercard doesn’t seem to want to compete directly with crypto services. Instead, it is exploring options to offer regulated access points that can connect DeFi innovation with the current financial system.
The move highlights that more institutions are accepting blockchain-based payment solutions.
The payment giant has been slowly moving its crypto plans from the proof-of-concept stage to building infrastructure. It acts as a bridge between the traditional financial sector and blockchain-based infrastructure.
The company has also been developing crypto card partnerships, while also supporting stablecoin payments. Further, the financial behemoth is allowing customers to purchase and use digital assets via regulated payment channels.
The company’s recent hiring spree in the areas of DeFi and tokenized assets shows that it is becoming more interested in using blockchain technology directly in its infrastructure instead of just as a novelty.