eBay Is Planning On Adding Cryptocurrency Payments, Says CEO
Popular e-commerce site, eBay might be on the verge of adding a new cryptocurrency payment system to its platform.
During an interview hosted by The Street, CEO of eBay, Jamie Iannone said that as of now, the platform is not taking any payments in terms of cryptocurrencies, however they are considering on it and are planning to schedule an announcement during the investor meeting that will be held on the 10th of March. Jamie specifically stated that they will be revaluating payment systems on the platform and at the time of investor meeting, other aspects such as advertising will also be discussed.
NFT Boom
In reference to the growing market of NFTs, Jamie highlighted the massive number of transactions that are happening each day with the likes of NFTs, saying that the platform is working towards being a venue where traders can come together to trade, whether it is in physical or digital form. The surprising thing was that people had already started trading NFTs on the site, without them even officially announcing any formal support for it.
New Trading Generation
Following that, last year, eBay had permitted the trade of NFTs, marking itself as the very first e-commerce firm to engage with NFT trade. Back at that time, one company official had also hinted about the implementation of a cryptocurrency payment system, on which Jamie said the platform was looking for ways it could get the attention of this younger generation of traders.
eBay has been on the hustle for gaining the attention of the newer generation of buyers, bringing nearly every type of payment system on the platform including, Apple pay, Google pay and a unique payment system that would let buyers get what they want, but pay for it later. With their extensive focus on payment systems, the company has managed to secure an outstanding $85Billion in trading volumes, allowing it to expand on more payment methods.
Growth of Crypto
As the cryptocurrency space continuous to swell at a rapid pace, traders around the world have been urging companies to integrate cryptocurrency payment systems. Thousands of companies including Tesla, VISA, Shopify have now implemented cryptocurrency payment systems on their platforms, highlighting the importance of development in crypto-based trading.
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