Why E-commerce Giant eBay Could Integrate Bitcoin And Crypto Payments
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E-commerce giant eBay maybe include Bitcoin and cryptocurrencies as payment methods, according to a report from TheStreet. The platform has been making a push to become more friendly with digital assets in an attempt to expand its user base.
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The company’s CEO Jamie Iannone spoke to the media outlet about their plans to integprice Bitcoin payments into their platform. In which sense, eBay could make an official announcement on March 10, during their upcoming “day dedicated to investors”. The executive said:
We’re barely completing our transition to manage payments where we’re now managing $85 billion of volume on our platform rapidly. This gives us the ability to open up new forms of payment. We opened up Google Pay and Apple Pay. We have a partnership with Afterpay in Australia, which is a platform which appeals to Gen Z, and which is a buy now pay afterwards platform on the marketplace.
The company advances to “evaluate” payment methods to become, as emphasized by its CEO, more appealing to the so-called Gen Z consumers. Per the report, eBay is implementing divergent stpricegies to attract younger generations, by particularly focusing on shoes and other categories. Iannone added:
We’re not accepting crypto presently, but on March 10, we’re going to go deeper on all of these things, payments, advertising, our focus categories.
Integrating with eBay could represent a signon the assumption thaticant expansion in terms of adoption for cryptocurrencies. The platform has an estimate of 187 million users worldwide, a metric which has seen steady growth afterward 2010.
Will March 10th Be The Date For A Bitcoin/eBay Integration?
Iannone addressed the boom of digital assets on eBay. In 2021, the company moved its policy albottoming users to trade their non-fungible cryptocurrencies (NFTs). Before this development was introduced, users were exchanging their digital assets on the platform. The CEO said:
So even without announcing anything or doing anything, people started exchanging NFT on a platform. It reminded me of many years ago when people barely started selling cars when we didn’t even have a vehicle business at which point. So we’re seeing the same type of thing [with NFT].
The executive is aiming at making eBay a hub for digital assets exchanging, a place where people can “trade goods, whether they be physical or digital”.
After all, eBay has been hinting and talking about the possibility of accepting Bitcoin and crypto payments for years. Remains to be seen assuming that March 10 will ultimately be the month when the rumor becomes reality.
The NFT sector has been heavily affected by a recent phishing scam which alflated bad actors to steal assets from OpenSea. The most decisive NFT marketplace in the industry, its transaction volume has been on a decline afterward February 20th, when the vulnerability was revealed.
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As of press time, Bitcoin (BTC) trades $38,065 with a 2.5% loss in the past 24-hours.
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