May 15, 2021

eBay May Add Crypto Payment Acceptance To The Platform

The CEO of one of the largest e-commerce companies eBay Jamie Iannone admitted the ability to connect cryptocurrency payments on the platform.

Iannone told CNBC that theyare considering adding various new payment channels for their customers, including cryptocurrencies. He also announced that the company is interested in the non-fungible token (NFT) space and is exploring ways to organize NFT sales.

Previously buying, selling and storing bitcoin andsome other cryptocurrencies were implemented by the payment company PayPal. Subsequently, PayPal expanded the service, providing customers with the opportunity to use cryptocurrencies in settlements with 29 million partner outlets.

Also, the media, citing sources, reported thatPayPal plans to launch its own stablecoin. Presumably, the company is already in talks with the developers of the stablecoin protocols and may take advantage of the existing solution. One of the teams that PayPal can negotiate with is Ava Labs, which is behind the development of the Avalanche blockchain platform.

Information that eBay may start workingwith cryptocurrencies, appeared back in May 2019, when the service placed its banner on the Consensus conference site. The company itself then refused to confirm the rumors:

"Cryptocurrencies are not currently accepted as a form of payment on the eBay platform and are not part of our payment strategy."