According to the CEO of eBay, cryptocurrency payment options will be added soon.
The e-commerce behemoth aspires to be the marketplace for Millennials and Generation Z, and given their growing interest in cryptocurrency, will introduce new payment options to entice customers.
According to CEO Jamie Iannone in a recent interview, major e-commerce marketplace eBay may soon integrate crypto payments.
The internet marketplace is one of the oldest e-commerce platforms, and it is now vying to become the preferred platform for Generation Z and Millennials. In an interview with The Street, the CEO stated that the company has been looking to integrate cryptocurrency payment options for quite some time and that an official announcement could be made during the upcoming investor’s day on March 10.
During his interview, Iannone revealed that the e-commerce behemoth is looking to transition to new payment modes, despite the fact that it is already directly managing $85 billion of volume on its platform.
When asked about eBay’s position on emerging technology such as blockchain and cryptocurrencies, Iannone pointed to the growing popularity of nonfungible tokens trading on its platform without making any official announcements.
According to Iannone, the company changed its policies last year to make the e-commerce platform a place to buy and sell anything, whether it is a physical or digital commodity.
Because of the increased popularity and demand for cryptocurrencies, several online platforms have added crypto payment options. eBay aims to do the same, with a focus on Millennial and Gen Z customers. However, this will not be the company’s first foray into crypto payments; eBay first attempted to integrate BTC payments in 2014.
As reported in May 2021, eBay was looking into Bitcoin payment integration as well as NFT trading last year. As cryptocurrency has become more mainstream and acceptable among the general public, the plan for crypto payment integration appears to be nearing completion.
