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Ebay Considers Accepting Crypto To Attract Gen-Z & Millennials



 According to Street reports, e-commerce giant eBay said it is considering accepting crypto payments to attract Gen Z and Millennial users. According to credible sources, the official announcement will be made during Ebay Investor Day on March 10th.

eBay CEO Jami Lannone said the platform is keen to target the young demographic. Specifically, the CEO said the platform will focus on transactions related to sneakers to collect, among other growing crypto trends.

eBay allowed NFT trading on its platform last year to capitalize on the growing popularity of NFTs around the world. However, eBay does not currently allow crypto payments.

Jami Lannone said:

“We currently do not accept cryptos. But on March 10th, we're going to go into more depth on all of these things, payments, advertising, and our focus categories. eBay will be where people trade goods, whether physical or digital.”

The growing list of companies allowing crypto payments

Some of the reputable names that allow users to use crypto payments are payment gateway PayPal, online retailer Overstock, theater operator AMC, streaming site Twitch, and Tesla.

Overstock accepts bitcoin payments, while Tesla, which previously allowed bitcoin payments but later dropped it citing environmental concerns, now accepts Dogecoin (DOGE) as payment for its goods.

The main obstacle against the widespread adoption of cryptocurrencies around the world is the lack of proper regulations in all nations around the world. The crypto space has had to contend with numerous tides ranging from bans in different countries to restrictions on certain activities.

For example, China has hit the headlines for banning crypto activities within the country, which has caused various exchanges and crypto service providers to shut down operations in China and look for greener pastures in other crypto-friendly countries like the US.

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