eBay is now Considering Crypto Payment on its Platform

eBay CEO hints about crypto payment

eBay has been considering integrating crypto payment alternatives, and an official announcement might be made on the forthcoming investor’s day on March 10.

During an interview with The Street, CEO Jamie Iannone disclosed that his company is aiming to migrate to new payment systems, despite the fact that it already manages $85 billion in traffic on its platform.

When asked about eBay’s position on developing technologies like blockchain and cryptocurrency, Iannone mentioned the rising popularity of crypto trading on the site without making any official announcement.

“We’re just completing our transition to managing payments where we’re now managing $85 billion of volume on our platform directly. This gives us the ability to open up new forms of payment,” he added “And so we continue to evaluate other forms of payments that we should take on the platform. We don’t currently accept cryptocurrency on the platform.”

Last year, the firm updated its regulations to make the e-commerce platform a place to purchase and sell anything, whether it’s a real or digital commodity, according to Iannone.

However, this will not be eBay’s first effort into crypto payments; in 2014, the business attempted to integrate Bitcoin payments.

Despite the fact that eBay has yet to implement the crypto payment option, it made significant investments in the booming NFT industry in May of last year. On its platform, the company allowed for the selling of NFTs. NFTs could only be offered and sold by whitelisted merchants.

eBay isn’t the only well-known company that have worked with cutting-edge technology like NFTs and blockchain. Last year, online payment processor PayPal and Chinese e-commerce giant JD.com entered the NFT market.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News