Traditionally, Capital One has not been too friendly to Bitcoin. Some have claimed to have their accounts shutdown due to Bitcoin transactions. Capital One has even shut down BitFloor’s, a Bitcoin exchange, $2.8 million USD account by mailing them a check with the message, “It…
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Credit cards and Bitcoin is something that you don’t see together every day. In fact, it’s something that’s almost never seen. Capital One financial holding company has recently expressed interest in hiring a new Digital Operations Manager for their Capital One D3 (Data + Design + Disrupt) team in San Francisco, Cal. It looks like a nice job that delves into digital analysis, but the intriguing part is that it specifically mentions Bitcoin.
Among the list of preferred qualifications, Capital One outlines a few key factors they would like to see in a new team member addition. While they would like a new employee to understand the nuances of working in a regulated bank environment, they’re also looking for someone involved with Bitcoin.
The ad states:
“A passion for the latest in financial technology including bitcoin, mobile wallets, mobile payments, beacons, predictive analytics and person-to-person lending.”
Capital One looking to hire a Bitcoin-savvy employee is something that company has begun doing more often recently. In fact, just a few days ago there was another job posting for a Data Scientist position that was looking for something similar.
“Investigating the impact of new technologies like Google Glass, Leap Motion, smart watches, Bitcoin, and iBeacons on the future of mobile banking and the financial world of tomorrow.”
While these moves do not state intention for Capital One to integrate Bitcoin, it does show that cryptocurrency is coming onto the radar of some very big financial companies. The location of the job posting also needs to be taken into account as well, as California has been a very accepting place to Bitcoin. Companies like Gyft have seen success in accepting Bitcoin, and California’s government has shown outright support for digital currencies.
Recently, there have been quite a few Bitcoin Debit cards being planned and prepared. It’s no secret that Bitcoin users want to find a way to utilize the technology and make their Bitcoin easily accessible to themselves and merchants at brick-and-mortar stores.
The combination of powerful financial entities and this debit card technology could really be something that changes the future of Bitcoin. As of right now, the plans laid out by ANX and Xapo look promising. If Capital One is, in fact, looking to venture into that territory, it would be wise to see how the first rounds of the cards succeed.
There’s always a chance that Capital One could simply be investigating a threat to their business instead of looking to adopt. Bitcoin is fundamentally against big banks and credit cards, so Capital One is in a position to either find a way to destroy it or adapt accordingly.
This decision can put a large financial company into a difficult spot. Western Union has shown that they are not ready to adopt, mostly because they do not understand the nature of the currency. If more powerful figures start researching ways to eliminate Bitcoin due to misunderstandings, there could be problems.
Of course, this has to be kept solely to speculation due to non-communication from Capital One. Capital One has been silent on their Bitcoin plans in the past, except for when they close accounts, and have not responded to CCN by the time of publishing.
Last modified: January 10, 2020 2:08 PM UTC