The Federal Reserve Bank of San Francisco is looking for software developers to help research and design a central bank digital currency (CBDC).

One job listing posted to LinkedIn is for a “Senior Application Architect - Digital Currency.” It was posted to LinkedIn less than a day ago and, after capturing attention across the crypto space, already garnered 23 applicants.A central bank digital currency is a tokenized version of a country’s fiat currency. Similar to stablecoins, a CBDC’s value tracks that of a currency issued by a government like the U.S. dollar. But instead of being managed by private companies, a CBDC is issued by a central bank like the Federal Reserve.

The Senior Application Architect hired by the San Fransisco Fed will play a critical role in both designing a CBDC and overseeing its development, according to the job post, and will be responsible for both mentoring engineers and developing roadmaps that “balance tactical and strategic needs” related to the project. One of the position's qualifications is experience working with digital payment systems, cryptocurrencies, or other CBDCs.

The posting goes on to say that the team developing a CBDC has the “feel of a start-up,” and that the Senior Application Architect role lists a salary range of between $134,900 and $215,400.