The e-commerce company intends to be the platform for Millennials and Gen Z, and considering their growing interest in cryptocurrency, will introduce new payment alternatives to entice customers.
In the latest interview, eBay CEO Jamie Iannone stated that the company could shortly incorporate crypto payments.
The online marketplace is one of the oldest eCommerce platforms, and it is now striving to become the leading system for Generation Z and Millennials. During an interview with The Street, the CEO stated that the company has been trying to incorporate crypto payment options for a long time and that an official statement could be delivered during the following investor's day on March 10.
In his interview, Iannone said that the e-commerce giant is seeking to move to new payment mechanisms, even though it is already actively operating $85 billion of traffic on its platform.
When asked about eBay's position on developing technology such as blockchain and cryptocurrencies, Iannone noted the increasing popularity of nonfungible tokens trading on its platform without making any formal statements.
According to Iannone, the company altered its guidelines last year to make the e-commerce platform a place to purchase and trade anything, whether it is a physical or digital product.
As cryptocurrencies' fame and demand have grown, various online platforms have started to provide crypto payment options. eBay intends to do the same, with an emphasis on Millennial and Gen Z users. But this will not be the company's first move into cryptocurrency payments. In 2014, eBay planned to integrate Bitcoin payments for the first time.
As previously revealed in May 2021, eBay was examining Bitcoin payment inclusion and also NFT trading last year. As crypto has grown more widespread and acceptable among the general public, the plan for crypto payment incorporation seems to be nearing completion.