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Could eBay Start Accepting Digital Assets As Payment Method?

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Before the Consensus 2019 conference that is going to be held on May 15 in New York, some rumours spread regarding eBay and the possibility for it to start accepting digital assets. eBay is going to be one of the most important sponsors of the Consensus conference.

Could eBay Start Accepting Cryptos?

eBay is one of the largest e-commerce companies in the world and it will be sponsoring the Consensus conference this week. The event is also going to be sponsored by companies such as ConsenSys, Ledger, Tron (TRX), Microsoft and many others.

There have been different rumours regarding this possibility. The cryptocurrency trader on Twitter called @ImNotTheWolf, released two images on Twitter showing two different billboards related to eBay announcing virtual currencies arriving at eBay.

At the moment, there is no information regarding which digital assets are going to be supported by the firm and whether these rumours are real or not. Other users are pointing at the former executive of PayPal and eBay, Sanka Kon, that is working for the UTRUST crypto payments service. Additionally, he is also in charge of Global Partnerships. Thus, eBay could also become a strategic partner.

Back in 2017, the Senior VP for eBay, Scott Cutler, hinted that the e-commerce firm could be accepting Bitcoin for the goods sold on the platform. Nonetheless, the Chief Financial Officer of PayPal, John Rainey, explained that they are working with distributed ledger technology (DLT) but it might be just too early to release a product or service related to them.

On the matter, he commented:

“We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future – I just think it’s a little early on right now [on Bitcoin].”

Although eBay could be accepting virtual currencies in the future, there is currently a category called “Virtual Currency” that allows users to trade cryptocurrencies against fiat currencies in an anonymous way. That means that the pictures released on social media might be just related to another feature of eBay.

Cryptocurrencies have been expanding around the world in the last few years, but they were not able to reach a large number of users as many enthusiasts would like. Adoption is lagging and several merchants decided to stop accepting digital assets as a means of payment. Nevertheless, if eBay decides to support virtual currencies as a means of payment, things could be very bullish for the market.

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