The demand for cryptocurrency has skyrocketed, and major corporations around the world are taking notice. eBay, a major e-commerce platform, chose to join in. After hopping on the NFT bandwagon, Jamie Iannone, the firm’s CEO, offered his thoughts on accepting cryptocurrency for payments.
Crytpo has reached every part of the world. Cryptocurrencies have proved to be part of major events across the globe. Adhering to the demand of the public most businesses accept crypto. Just as the whole new notion of crypto as a payment instrument takes off, eBay wanted to be at the forefront of this race.
eBay, one of the earliest e-commerce platforms in the world reportedly manages a volume of over $85 billion. Therefore, the firm wanted to broaden its horizons with respect to new forms of payment. After including payments means like Apple Pay, Google Pay, and Australia’s Afterpay, the platform could be adding crypto.
Speaking to a news portal, eBay’s CEO said,
“And so we continue to evaluate other forms of payments that we should take on the platform. We don’t currently accept cryptocurrency on the platform.”
Furthermore, the CEO did not reveal further details about this potential addition. Yet, the inclusion of crypto on the e-commerce giant would certainly bring in more growth to the industry as well as the platform.
eBay targets Genz and Millenials
Every platform has a target demographic, and eBay’s is Generation Z. The e-commerce behemoth sees the selling of sneakers as one of its key development areas. GenZ spends a lot of time exploring this category. Aside from that, the company was thinking long-term. GenZ is a complete generation of today’s and tomorrow’s consumers.
As a result, with sneakers and crypto, eBay was engulfing GenZ. The CEO added.
“we’re appealing to the younger generation, where they’re coming in selling their sneakers, becoming a collectible collector on the platform, and they’re building new marketing capabilities.”