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Bitcoin: eCommerce giant eBay on track to adopt cryptocurrency payments and NFT

Cryptocurrencies have been attracting digital giants and financial institutions for several months. E-commerce giant Ebay is trying to rebuild itself on the Web3 and is turning to cryptocurrencies as a payment method.

Many companies have spoken out or mentioned a potential adoption of cryptocurrencies as a means of payment, among them Apple and its Apple Pay service, Samsung and its crypto wallet for its new S22 smartphone or even VISA, which has even procured a CryptoPunks for the sum of 155,000 dollars.

The latest announcement comes from e-commerce pioneer EBay, which had announced a few hours earlier that it was interested in the potential of NFTs (Non-Fungible Token) for its platform. E-Bay having undergone the rise of its competitors Amazon, Rakuten and other e-commerce giants, the company wants to renew itself and take advantage of the opportunities that are the innovations of Web3. Its CEO Jamie Lannone spoke to his investors in favor of a potential adoption of cryptocurrencies as a means of payment on the online platform, the latter mentioned the date of March 10 as a first deadline, and is particularly interested in Bitcoin and Ethereum.

Cryptocurrencies, the financial renaissance and new means of exchange
Cryptocurrencies and blockchain are a technological and financial revolution that will transform the internet, our exchanges and our digital interactions. Commonly referred to as the Web3, this new ecosystem is attracting more and more individuals, institutions and companies.

In order to rebrand his company and reignite investor interest, Jamie Lannone mentioned to The Street media, “We just completed our transition in terms of payment management, where we now manage $85 billion in volume on our platform directly, this gives us the opportunity to open up new forms of payments.”

Although the platform has not yet officially accepted cryptos as a payment method, Jamie Lannone did mention his and his company’s interest in cryptocurrencies. But wouldn’t this just be a marketing tool to reach out to the famous “GenZ”, that crypto-friendly generation Z, in order to rebrand itself in this competitive world that is dominated by King Amazon.

Crypto Payments, a real exchange tool on the Internet of Things (IoT)

There is a growing, but also diverse interest in blockchains and crypto-currencies, but their “volatility” or rather their too speculative aspect for some players may be a hindrance to its massive adoption in the short term. But stablecoins seem to be an excellent way to democratize crypto-assets, as real means of exchange. It should be mentioned, however, that these announcements may obviously have a marketing aspect, and it remains to be seen what EBay actually offers to its users.

While it remains complex to estimate that Bitcoin or Ethereum will be a means of exchange on EBay, Amazon, Apple, or other digital platforms. But stablecoins are a credible near-term prospect, because it is clear that the crypto-currency craze is affecting many industries and demonstrating the effectiveness and usefulness of this technology. Binance and already offer crypto payment services with their crypto payment cards elsewhere.

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