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Ecommerce giant eBay could accept crypto payments

written by Bella Palmer

The news marks another possible landmark for cryptocurrencies, which have grown hugely in stature over the past few years

Ecommerce giant eBay has signalled it is open to the idea of accepting payments using cryptocurrencies such as Bitcoin on its site.

We are always looking at the most relevant forms of payment and will continue to assess that going forward. We have no immediate plans, but it (cryptocurrency) is something we are keeping an eye on, eBay told Reuters.

eBay, which has nearly 190 million users worldwide, has long been popular for its online auctions, but has diversified significantly in recent years to embrace straightforward ecommerce, with sellers and SMBs alike setting up dedicated online stores on the site.

The news marks another possible landmark for cryptocurrencies, which have grown hugely in stature and influence over the past few years.

Earlier this year, former eBay partner PayPal announced plans to start allowing shoppers in the US to spend their cryptocurrency to make payments when buying online. Customers will be able to convert their bitcoin cash or litecoin held in PayPal digital wallets and convert the funds into fiat currencies, letting them pay for purchases at the checkout.

Online payments giant Visa also recently suggested it would soon allow customers to send and receive funds using the USD Coin cryptocurrency, and carmaker Tesla has announced it will begin accepting bitcoin payments for its cars - although the company will hold the bitcoin, rather than turning it into fiat currency.

eBay also suggested it would look at ways to add sales of non-fungible tokens (NFTs) on its platform. The bizarrely popular practice allows buyers to own a digital piece of art or content, but has been ridiculed around the world for its lack of protection and the legitimacy of ownership.

We're exploring opportunities on how we can enable it (NFTs) on eBay in an easy way, eBay CEO Jamie Iannone told CNBC in an interview. Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.


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