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eBay to add crypto payment options soon, says CEO

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In a recent interview, eBay CEO Jamie Iannone stated that the company could soon accept cryptocurrency payments.

The internet marketplace is one of the first e-commerce platforms. And it is currently vying to become the platform of choice for Generation Z and Millennials. In an interview with The Street, the CEO stated that the company has been trying to integrate crypto payment methods for a long time. And that an official announcement might be made at the upcoming investor day on March 10.

During his interview, Iannone said that the e-commerce behemoth is considering transitioning to new payment methods. Despite the fact that it already manages $85 billion in volume on its site.

Iannone, when asked about eBay’s stance on developing technologies like blockchain and cryptocurrencies, mentioned the rising popularity of nonfungible tokens trading on its platform without making any official remark.

Last year, the firm updated its regulations to make the e-commerce platform a place to purchase and sell anything. Whether it was a physical or digital commodity, according to Iannone.

Because of the growing popularity and demand for cryptocurrencies, various online sites have begun to provide crypto payment options. eBay intends to do the same with its concentration on Millennial and Gen Z clients. However, this will not be eBay’s first foray into crypto payments; in 2014, the business attempted to integrate Bitcoin payments.

Last year, as revealed in May 2021, eBay was looking at Bitcoin payment integration as well as NFT trading. Cryptocurrency has become more mainstream and accepted by the general public. Hence, the crypto payment integration plan appears to be nearing completion.

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