Ebay is looking at cryptocurrency as a payment option for its 187 million buyers on the platform, the company’s CEO announced. The e-commerce giant is also exploring opportunities in the non-fungible token (NFT) business.
Ebay is looking into adding cryptocurrency as a payment option
Jamie Iannone, Ebay CEO, said in a CNBC interview Monday that the company will accept cryptocurrency as a payment option.
He was asked how Ebay is responding to the increasing popularity and acceptance of Bitcoin and other cryptocurrencies. The CEO replied:
We’re expanding the types of payments we accept. We are now taking Apple Pay and Google Pay. More choice for buyers … We’ll keep looking at other options like cryptocurrency.
He added, “One of the great things about Ebay is that a new trend is only showing up on Ebay. We see that in areas like NFTs [non-fungible tokens]and we’re looking at how we can explore that better. He also noted that Ebay has “187 million buyers on the platform,” which was reported in the company’s earnings release for the first quarter.
Iannone was also specifically asked, “Does this mean you’re getting into the NFT business?” He answered:
We’re looking at this and exploring ways we can easily activate it on Ebay.
PayPal was the subsidiary of Ebay until 2015 when the company spun off the payment giant to its shareholders. PayPal launched its crypto service last year and enabled crypto payments in millions of stores in March. Recently, allow Venmo app users to buy, sell and hold selected cryptocurrencies.
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