Make Kitco Your Homepage

Visa is now hiring engineers to develop a stablecoin payment system

Kitco News

Editor note Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here!

(Kitco News) - Visa continues to move forward with the development and integration of blockchain technology as the company is now looking to hire several new positions to help it execute its crypto product roadmap.

According to a Twitter post from Cuy Sheffield, the head of crypto at Visa, the firm has an “ambitious crypto product roadmap” and has just posted several new job openings for senior software engineers “to help us drive mainstream adoption of public blockchain networks and stablecoin payments.”

A follow-up tweet from Sheffield indicates that Visa is especially interested in applicants that have experience using Github Copilot and other AI-assisted engineering tools to write and debug smart contracts.

“The Visa crypto team is building the next generation of products to facilitate commerce in everyone’s digital and mobile lives,” the job posting said. “We are hiring for experienced Software Engineers who are proficient programmers, have experience in building highly available & scalable backend systems and are passionate about the Web3 stack of technologies.”

Visa is looking for team members who can help “improve engineering productivity, efficiency, effectiveness, and quality of software; write good quality code across various programming languages; and document design tradeoffs and long-term architecture decisions.”

As a sign of the changing employment market since Covid hit, Visa has made the position hybrid, which means employees are expected to work in the office 2-3 set days of the week, “with a general guidepost of being in the office 50% or more of the time based on business needs.”

Other qualifications for the position include having a good understanding of Layer 1 and Layer 2 solutions, experience writing smart contracts using Solidity, a good understanding of public and permissioned DLT networks, security protocols and private key custody, and familiarity with Ethereum enhancements such as ERC-4337.

This development comes despite earlier reports that both Visa and Mastercard were looking to pause new blockchain-related products and partnerships until conditions in the wider crypto market see meaningful improvements.

Visa is going full crypto based on its latest trademark applications

While many companies are looking to integrate crypto technology that has already been developed, Visa is one of the few firms that has sought to lead the way in new developmental breakthroughs.

In December, a team of Visa researchers and engineers released a smart contract application for a self-custodial wallet on the Ethereum blockchain that could enable programmable payment instructions like automated bill payments through a bank account.

On the business side of things, Visa partnered with JPMorgan last October to streamline cross-border payments through the use of their private blockchain networks Liink and B2B Connect. The service is now fully operational in ten countries and is projected to increase its presence to more than 30 countries by the end of 2023.

And in February, Visa signed a long-term strategic global partnership with the Wirex crypto payments platform to expand Visa-enabled crypto payments into the Asia Pacific (APAC) region and the U.K.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.