eBay To Pursue Crypto Payment Options And Introduce NFTs
eBay To Pursue Crypto Payment Options And Introduce NFTs
May 5, 2021
eBay To Pursue Crypto Payment Options And Introduce NFTs
eBay To Pursue Crypto Payment Options And Introduce NFTs
May 5, 2021

eBay, the major online marketplace, has announced that it will be pursuing crypto payment options for its customers along with exploring ways to introduce nonfungible tokens (NFTs) on the platform.

Jamie Iannone, the CEO of eBay, said that the company will “continue to look” at payment options like crypto. He added that eBay will be “exploring opportunities” to enable NFTs on the platform “in an easy way,” comparing the digital offerings to collectibles.

He said:

“One of the great things about eBay is when there’s a new trend, it just shows up on eBay. That’s what we’re seeing in areas like NFT, which we’re looking at how can we explore that better.”

It has been reported that the CEO said parts of NFTs were “already transacting” on the platform now but eBay had not yet simplified the process for buyers and sellers. Some users are also able to list Bitcoin (BTC) for sale on the platform seemingly without eBay specifically sanctioning such auctions.

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However, executives at the online marketplace have previously hinted that eBay could be open to accepting crypto payments. Three years ago, a senior vice president at the firm said eBay was “seriously considering” integrating BTC into its platform as a payment method.

The platform also partnered with PayPal to facilitate payments prior to the payments provider announcing it would allow crypto trading last year.

Thus, the firm is slowly transitioning from using PayPal to e-commerce firm Adyen. As of the first quarter of 2021, eBay has around 187 million active buyers.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.