Why American Express Is Racing to Build Its Own Stablecoin Team Now
Why Is Racing to Build Its Own Stablecoin Team Now
American Express is making a big move into the world of digital money. The company has created a new high-level job to lead its work on stablecoins and blockchain links. This step shows that the credit card giant wants to keep up with rivals like Visa and Mastercard.
New Role Focuses on Three Main Areas
The job is called Vice President of Stablecoin and Blockchain Partnerships and Strategy. It sits inside the Digital Labs team in New York. The pay range runs from $176,750 to $282,000 a year. That salary shows how important the role is to the company.
The position rests on three key ideas:
Amex Builds a Full Blockchain Team
Along with this role, Amex posted another job for Vice President of Onchain Products. These two hires point to a larger plan. The company wants a whole group of experts who understand blockchain tools and how to use them in real payments.
Visa and Mastercard Already Moved Ahead
Visa has spent years setting up ways to settle payments with stablecoins like USDC on networks such as Ethereum and Solana. Mastercard has started token programs and teamed up with crypto companies for easy money transfers in and out of digital assets. Amex stayed quiet for a long time by comparison.
Still, Amex is not starting from zero. Back in 2017 it tested cross-border payments with Ripple. Its investment arm has put money into firms like FalconX that deal with digital assets.
Clear Rules Could Speed Up Growth
Lawmakers in Congress are working on new rules for stablecoins. Both parties support clearer guidelines for dollar-backed tokens. Better laws should help the whole stablecoin market grow faster. Right now Tether and Circle lead in issuing these tokens, but the real win comes when big payment firms add them to their systems.
What Comes Next for Amex
One big question is which stablecoin Amex will pick. It could choose USDC, USDT, or even create its own token. That choice will show how the company views rules and where it sees digital dollars fitting into its cards and services.
By hiring experts now, Amex is getting ready for a future where stablecoins play a larger part in everyday spending and business deals. The move could help the company stay strong as money keeps moving online.
