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US Federal Reserve seeks to integrate digital currencies to its payment section

By Yana Berman

A recent job posting reveals that the US central bank is looking for a crypto manager

The US Federal Reserve, which serves as the country’s central bank, is looking for a manager to integrate digital currencies to its retail payments section.

The position, titled “Manager, Retail Payments”, was published on November 4 and it indicates that the central bank is seeking to reform its payments system and add new assets following a thorough review.

The job posting says that the manager will both oversee the traditional payments section and conduct research on “digital currencies, stable coins, distributed ledger technologies.”

Apart from examining the possibilities of renovation, the key responsibilities of the new employee will also include overseeing automated clearinghouse services of the Fed and addressing regulatory issues concerning retail payment systems.

The applicants, who should have a bachelor’s degree in business administration and possess at least seven years of related experience, could be paid up to $250,700 (£194,600), according to the Fed's salary structures.

In October, the Fed revealed that it was actively debating the possibility of issuing a digital currency, as the dollar could be at a risk of losing its dominance on the global markets. The advertisement of this job position could be tied to the Fed’s wider plan.

Tokenised securities are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how tokenised securities and leverage work and whether you can afford to take the high risk of losing your money. Nothing in the above article should be regarded as a recommendation to trade generally, to trade on a particular platform or to trade in a particular asset. Asset prices can go down as well as up and past performance is not a guide to future performance. Investors and traders should thoroughly research an asset or strategy before making any trading or investment decision and if necessary seek professional advice.

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