Amazon CEO Says They’re Not Close to Accepting Crypto as a Payment

Vignesh Karunanidhi
Amazon CEO Says They’re Not Close to Accepting Crypto as a Payment
Source: Ars Technica

Andy Jassy, CEO of Amazon, said to CNBC on Thursday that the e-commerce giant is not close to accepting crypto as a payment option.

Andy Jassy told CNBC that he doesn’t own Bitcoin. But, he added that he is optimistic about the future of crypto and NFTs.

“I don’t have bitcoin myself. You know, I expect that NFTs will continue to grow very significantly.”

Andy Jassy

Even though they are not considering adding crypto as a payment option, Andy said that there is a possibility that they might sell non-fungible tokens in the future.

Amazon believes that crypto will become bigger over time

Amazon has shown mild interest in cryptocurrency lately. Last year the company was trying to onboard a digital asset and blockchain expert for its payment team. The hiring was mainly to develop and frame a strategy around the evolving technology.

“We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger.”

Andy Jassy

Jassy added that he envisions a time when Amazon will sell NFTs to its customers. He mentioned that he doesn’t own any NFTs personally. But he believes that the technology will eventually grow to be much more significant.

A large number of companies are already jumping on the NFT and metaverse bandwagon as the entire crypto realm seems to be expanding. e-bay, a multinational e-commerce corporation announced last year that the platform will allow the selling and buying of NFTs including trading cards, videos and images. The company also pushed forward that it is possible that they might cryptocurrency in the future.

If Amazon with its broad customer base were to accept crypto as a payment, it would defintiely bring in a revolution. With Jassy hinting at a possibility that they might sell NFTs in the future, the real question is when?