Benzinga | May 6, 2021 11:50AM EDT

Nio's Posting For Blockchain Expert In US Triggers Crypto Speculation

Nio, Inc. (NYSE:NIO) has been on the forefront of many innovations on the technology and the services front. A recent job positing by Nio on its LinkedIn account has set tongues wagging about a possible crypto foray by the electric vehicle manufacturer.

What Happened: Nio, which is on the verge of announcing an European expansion plan, posted on its LinkedIn account, calling for a blockchain and security software engineer for its San Jose, California location.

See also: What is Blockchain?

The responsibilities listed include designing and building of blockchain systems, which are shared ledgers in an append-only distributed system of records shared across a business network.

The responsibilities will also include working with cross-functional teams to identify software requirements, create prototypes and deliver production-ready systems in the areas of blockchain and security engineering.

Related Link: Nio's Deliveries Double In April Despite Supply Chain Disruptions And Factory Shutdown

Taking cues from the posting, rumors about the potential launch of a Nio Coin are making the rounds. A Nio Coin could fit in with the company's scheme of establishing itself as a lifestyle brand, Wccftech, a technology focused news site reported.

Why It's Important: U.S. EV giant Tesla, Inc. (NASDAQ:TSLA) announced earlier this year it has decided to hold some of its treasury reserve in Bitcoin (CRYPTO: BTC) and also use the crypto as a payment option for its vehicles.

Related Link: 8 Takeaways From Nio's Q1 Call For EV Stock Investors: Chip Shortage, Margins, International Plans And More