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eBay CEO: Soon cryptocurrencies as a payment option

 


Well-known online auction platform eBay could soon integrate crypto payments, according to CEO Jamie Iannone in a recent interview.


The internet marketplace is one of the oldest e-commerce platforms and now aims to become the platform of choice for Gen Z and Millennials. The CEO said in an interview with The Street that the company has been aiming to integrate crypto payments for a long time. An official announcement could be made at Investor Day on March 10th.


In his interview, Iannone explained that the e-commerce giant is looking to switch to new payment methods as it already processes $85 billion in volume directly through its platform.


When asked about eBay's stance on emerging technologies like blockchain and cryptocurrencies, Iannone cited the growing popularity of trading non-fungible tokens on its platform . However, there has not yet been any official announcement in this regard either.


Iannone said the company changed its policies last year so that you can buy and sell anything on the e-commerce platform, whether it's physical or digital goods. eBay has not responded to Cointelegraph's request for comment as of press time.


The increasing popularity and demand for cryptocurrencies has prompted several online platforms to offer a crypto payment option. eBay wants Millennials and Generation Z to do the same. However, this is not the first time the company has attempted to introduce crypto payments. eBay had already targeted BTC payments in 2014 .


As Cointelegraph reported in May 2021 , eBay has been exploring integrating Bitcoin payments and NFT trading for the past year. The plan for integrating crypto payments is arguably almost complete now that crypto is becoming more of a mainstream phenomenon.


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