EBay Will Add Crypto Payment Options Soon, According To CEO

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eBay will add crypto payment options soon according to the CEO of the company Jamie Iannone so let’s find out more today in our latest cryptocurrency news.

The major e-commerce marketplace eBay will integrate crypto payments soon according to Jamie Iannone, the CEO of the company. The internet marketplace is among the oldest e-commerce platforms and is looking to become the go-to platform for users. The CEO said that the company is looking to integrate crypto payment options for a while now and an official announcement can be made during the upcoming investors’ day on March 10.

Iannone revealed that the e-commerce giant will transition to new payment modes as they are already managing $85 billion of volume on the platform directly. Talking about eBay’s stance on emerging technology like crypto and blockchain, Iannone pointed out the popularity of NFTs trading on the platform making any official announcements about it.

eBay will add crypto payments as Iannone said because the company already changed its policies to make the platform a place to buy and sell anything physical or digital commodity. The rise in popularity and demand for crypto has made a few online platforms add crypto payment options and eBay will now focus on capturing the Gen Z and Millennial customers. However, this will not be the first attempt at crypto payments for the company because it already tried BTC payments in 2014.

jamie iannone — Jamie Iannone, CEO of eBay/ Source: eBay Inc

eBay was exploring BTC payment integration in 2021 as well when it also started diving into the NFT space. The payment integration plan seems to near finalized as crypto became more mainstream and acceptable among the masses.

As recently reported, The everyday auction house eBay dips its fingers in the NFT world as they are the first traditional e-commerce company to announce the intent to integrate NFT support on the platform. Jordan Sweetnam who is an SVP and GM for eBay’s North American market, said in a statement that in the upcoming months, eBay will add even more capabilities that will bring blockchain-driven collectibles to the platform. With every initial entry on the platform, eBay anticipates adding an NFT inventory that will be available to sellers that meet the company’s initial criteria which is yet to be released. There is broad speculation that an NFT authentication protocol could be implemented.

Time Stamp: February 28, 2022