When popular companies and institutions start adopting something en masse, you can say that mainstreaming has begun. The same is happening with cryptocurrency right now. After hordes of companies gave credence to crypto, it seems like another domino is about to fall. And this time, it is one of the oldest names in the world.
eBay might be adding crypto payment options along with other capabilities on its platform soon. This was confirmed by none other than the CEO himself. Recently, Jamie Iannone, in an interview with CNBC, said that eBay will look into allowing crypto as a payment option. This is quite huge as far as adoption is concerned. The crypto community has been asking other retail giants like Amazon to include the same capability for ages.
The company is also looking to allow the buying and selling of NFTs (nonfungible tokens) on its platform. From Jamie’s statements, it seems like they are serious about it as they want to provide an easy way for people to get involved in NFTs. This is right in the wheelhouse for eBay, a site that is known for the buying and selling of rare items and collectibles for so long now. The CEO acknowledged this by stating that eBay has always been the go-to choice for people when a new trend emerges.
Jamie Iannone also said that in some manner, transactions relating to NFTs were already taking place on eBay. But the company is now looking to properly integrate the technology on its platform. This will provide better security and convenience for both the buyers and sellers. It will also help popularize the concept on a global scale. This could kickstart a phenomenon where every aspect of our lives gets tokenized.
In the immediate future though, proponents of crypto would like to wait and see what the company actually does. They have previously talked about integrating Bitcoin payments into the platform (about three years ago) but haven’t done it till now. This time might be different though.