eBay is exploring the approach to cryptocurrency and NFT payments

eBay is exploring the approach to cryptocurrency and NFT payments

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2021-05-05 18:22:20

Online giant eBay is in the process of projecting crypto payment options for its customers along with exploring many solutions to showcase and bring NFT to use on the platform.

In an interview that took place on April 5, eBay chief executive Jamie Iannone said the company would continue to look at payment options like cryptocurrencies. In addition, he revealed that eBay will explore opportunities for making NFT to work on the platform easily.

“One of the great things about eBay is that when a new trend emerges, it applies to eBay. We are seeing NFT as a standout trend. ”

Jamie Iannone shared that there are already a few NFTs available and traded on the platform, but eBay has yet to simplify the process for buyers and sellers. Some users can also list Bitcoin (BTC) for sale on eBay, without incurring penalties.

EBay executives have previously suggested that the company might be willing to accept payments in cryptocurrency. Three years ago, a senior vice president at the company said eBay was seriously considering integrating Bitcoin into its platform as a payment method.

eBay also partnered with PayPal to facilitate payments before the payment service provider announced it would allow cryptocurrency trading last year. The company is slowly moving from using PayPal to e-commerce company Adyen. As of the first quarter of 2021, eBay had approximately 187 million active buyers.

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