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

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.”

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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. 

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.