Ebay CEO hints at crypto payments

E-commerce platform Ebay’s CEO Jamie Iannone has said that it may be looking to implement crypto payments soon.

No exact timeline has been offered as to when this implementation may take place.

Iannone cited the increasing demand for the currency among Gen Z and millenials who also tend to be some of the most frequent users on Ebay. Further announcements could be made during the investor call scheduled for March 10.

During an interview, Iannone said that Ebay is interested in exploring uses for cryptocurrency and blockchain. This includes additional technological solutions such as non-fungible tokens  (NFTs) which are already traded on its platform.

Ebay has made a shift towards selling not only physical but also digital assets, which could pave the way for numerous aspects of the crypto industry, from metaverse and NFT assets, to cryptocurrencies, to accepting payments in crypto and DeFi.

While Iannone has not confirmed all of these are in the works, he did confirm that crypto will be a focal point of the experience as well.

Ebay is one of the oldest companies out there to try and integrate bitcoin as a viable payment method.

The platform first attempted to do so in 2014 but had to mothball those plans. Then in 2021, when the company introduced NFTs, there was an ongoing plan to also add cryptocurrencies.

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Source

Updated: 03/01/2022 — 14:00