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eBbay Plans To Accept Cryptocurrencies In The Future, Exploring Nfts - TCR

source-logo  thecoinrepublic.com 04 May 2021 08:15, UTC

  • Companies like eBay and Tesla have started taking digital coins as a form of payment
  • eBay also looking at NFT on its platform
  • Keeping a close watch on the most relevant types of payment instruments

An increasing number of companies have started accepting digital coins as a form of payment. The latest in this new trend is EBay Inc (EBAY.O). The Reuters reports that eBay has hinted at accepting cryptocurrency as an instrument of payment in the future. The company also added that it is looking at ways to get non-fungible tokens (NFTs) on its platform.

Cryptocurrencies find increased acceptance.

Cryptocurrencies are increasingly finding acceptance across the globe. Several companies have started accepting virtual currencies as a form of payment. Cryptocurrencies faced significant opposition from major financial institutions a couple of years back. However, it is one step closer to become a financial instrument in the mainstream world of commerce.

Tesla Inc (TSLA.O) has already offered its willingness to accept bitcoin as payment for its electric cars. PayPal has been allowing consumers to buy, sell and hold cryptocurrencies using its online wallets.

In a statement to Reuters, eBay said that the company is looking at the most relevant types of payment instruments, and this process will continue for some time. At present, there are no plans, but a close watch is being kept, the company added.

Ebay is looking at various options to get into the NFT space.

In an interview with CNBC, Chief Executive Officer Jamie Iannone said that cryptocurrencies are an option open in front of the company, and it is keeping a close watch on it. Meanwhile, eBay’s second-quarter profit forecast last week looks weak, which has disappointed the investors. The company is therefore looking at various options to get into the NFT space.

NFT is an acronym for Non-Fungible Tokens and exists on the blockchain. Their popularity has increased, with NFT artworks selling for millions of dollars. Musicians such as the Kings of Leon rock group are featuring them for their latest albums.

https://www.reuters.com/technology/ebay-ceo-says-looking-cryptocurrency-payment-option-cnbc-2021-05-03/

thecoinrepublic.com