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Ebay exploring crypto payment options and NFT auctions

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Main on-line market eBay might be pursuing crypto payment options for its prospects together with exploring methods to introduce nonfungible tokens on the platform.

In an interview with CNBC at present, eBay CEO Jamie Iannone mentioned the corporate will “proceed to look” at payment options like crypto. As well as, he mentioned eBay might be “exploring alternatives” to allow nonfungible tokens, or NFTs, on the platform “in a simple manner,” evaluating the digital choices to collectibles.

“One of the great things about eBay is when there’s a new trend, it just shows up on eBay,” mentioned Iannone. “That’s what we’re seeing in areas like NFT, which we’re looking at how can we explore that better.”

The CEO mentioned elements of NFTs had been “already transacting” on the platform now however eBay had not but simplified the method for consumers and sellers. Some customers are additionally in a position to record Bitcoin (BTC) on the market on the platform seemingly with out eBay particularly sanctioning such auctions. 

Executives on the on-line market have beforehand hinted that eBay might be open to accepting crypto funds. Three years in the past, a senior vice chairman on the agency mentioned eBay was “significantly contemplating” integrating BTC into its platform as a payment technique.

The platform additionally partnered with PayPal to facilitate funds previous to the funds supplier asserting it will enable crypto buying and selling final yr. The agency is slowly transitioning from utilizing PayPal to e-commerce agency Adyen. As of the primary quarter of 2021, eBay has roughly 187 million lively consumers.

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