eBay CEO announces to integrate cryptocurrency payments option soon

The e-commerce giant plan to become the marketplace for Millennials and Gen Z, and given their rising interests in crypto, add new payment options to lure in the customer base.

eBay CEO announces to integrate cryptocurrency payments option soon

Jamie lannone is the CEO of E bay said Giant e-commerce marketplace eBay could integrate crypto payment soon

The marketplace is among the oldest e-commerce platforms, now looking to become the go-to platform for Gen Z and Millennials, the CEO said in an interview with The street that the firm has been looking to integrate crypto payment option for quite some time and an official announcement could be made during the upcoming investor's day on March 10

At the time of the interview, lannone revealed that e-commerce is looking to the transaction to new payments modes as they are already managing $85 billion of volume on its platform directly. 

Talking about eBay's stance on emerging technology like blockchain and cryptocurrencies, lannone aimed towards the growing popularity of nonfungible tokens trading on its platform without making any official announcement regarding the same. 

Lannone said that the company changed its policies last year to make the e-commerce platform a place to buy and sell anything. be it a physical or digital commodity.

The rise in popularity and demand for cryptocurrencies has made several online platforms and crypto payments options eBay with its focus on capturing Millennial and Gen Z customers plan to do the same. It won't be the company's first attempt at crypto payments eBay first tried integrating BTC payments in 2014. 

eBay was exploring Bitcoin payment integration last year as well along with NFT trading The crypto payment integration plan now seems to be near finalized as crypto has become mainstream and more acceptable among the masses. 

Read: eBay now allows sale of NFTs on the platform