US Fed’s new job posting shows it is researching on how to integrate digital currencies to payments

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The U.S. Federal Reserve, the country’s central bank, is apparently researching on how to integrate digital currencies to its retail payments section.

According to a job posting published Monday, the central bank is hiring a manager to oversee its traditional payments section, as well as to research on “digital currencies, stable coins, distributed ledger technologies, and broadly financial/digital innovation in retail payments.”

The key responsibilities of the new hire would be to lead and manage the central bank’s retail payment services, including automated clearing house and check payments, and to address policy and regulatory issues concerning retail payment systems.

Regarding basic requirements for the role, applicants should possess a bachelor’s degree in business or finance and a minimum of 7 years of related experience, or a master’s degree and 6 years of related experience. The role, to be based in Washington, D.C., offers the maximum salary of $250,700 a year (the high salary grade being 29). The closing date for applications, however, is not mentioned in the job posting.

The posting appears a notable one, as a Fed official recently said that the central bank was “actively” debating developing a digital dollar. Last month, two U.S. lawmakers also asked the Fed to consider developing a digital dollar. 

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May 5, 2022, 3:17PM UTC
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