Tuesday, May 11, 2021

eBay is looking to accept cryptocurrency as a form of payment in the future.

The Takeaway:

eBay is open to the possibility of accepting cryptocurrency as a form of payment in the future and is looking at ways to get NFTs on its platform.

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According to the Reuters report, the multinational e-commerce corporation eBay is open to the possibility of accepting cryptocurrency as a form of payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the firm revealed. Several major companies have started to accept cryptocurrencies as a form of payment, taking cryptocurrencies mainstream.

 

eBay is looking at the possibility of accepting crypto. 

In a statement to Reuters, eBay said, “We are always looking at the most relevant forms of payment and will continue to assess that going forward. We have no immediate plans, but it (cryptocurrency) is something we are keeping an eye on. Earlier in an interview with CNBC, Chief Executive Officer Jamie Iannone said that accepting cryptocurrency was an option the company was looking at. Tesla is already accepting bitcoin as payment for its electric cars, while payments giant PayPal last year started allowing customers to buy, sell and hold cryptocurrencies using its online wallet. 

 

eBay is looking at a “number of ways” to get into the NFT space.

eBay, which disappointed investors with a weak second-quarter profit forecast last week, said it was looking at a “number of ways” to get into the NFT space. NFTs are a type of digital asset that exists on a blockchain that has exploded in popularity this year, with NFT artworks selling for millions of dollars and musicians such as the Kings of Leon rock group embracing them for their latest album. eBay chief said in the CNBC interview, “We’re exploring opportunities on how we can enable it (NFTs) on eBay in an easy way.”

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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