eBay Looking to Explore New Payment Options with Cryptocurrencies

eBay Looking to Explore New Payment Options with Cryptocurrencies

The CEO of one of the largest online marketplaces has announced plans to integrate digital assets to purchase and sell products on the platform.

While other e-commerce platforms have yet to implement crypto payment support, eBay may be the first out of the bunch to support digital assets.

According to a recent interview with TheStreet, Jamie Iannone, who is the CEO of eBay, said that the e-commerce platform will be shifting its focus towards the younger generation via digital assets, including NFTs.

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eBay has hinted at adding crypto support back in May of 2021, but no official plans were confirmed until yesterday. Based on the report, eBay will possibly give an official announcement on its Investor’s Day event, which will take place on March 10th.

Iannone argued that crypto assets have been of interest to the company for a while, with earlier attempts to implement Bitcoin into the platform. This time, the company seeks to revitalize its marketplace by allowing users to sell and buy digital products by using digital currencies.

In the interview, Iannone sees this shift towards digital assets as a way to bring the younger generation, or as he calls them by their "contemporary" titles - the Millennials, or the Gen Z, to the platform, where they will potentially be able to purchase or sell their NFTs.

The CEO explained that the transition towards new payments was due to the fact that the platform has to sort through an $85 billion volume, and having additional payment options helps manage that volume more efficiently.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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