Amazon, the world’s largest retailer, could be gearing up to launch a cryptocurrency exchange following reports the company has registered names related to cryptocurrencies, according to ValueWalk.com reporter Maj Soueidan.
The company’s registered domain names which include amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com could be placeholders for a more significant projects horizon, says Soueidan.
An Amazon cryptocurrency exchange would be a monumental step towards establishing the long-term credibility of cryptocurrencies and furthering adoption of digital currencies at a massive scale, besides creating a significant source of revenue growth for the company, experts say.
The promise of feeless transactions, Amazon’s massive computing power and its placement as the world’s largest retailer are all significant factors for its foray into the cryptocurrency marketplace. There are also rumors of a potential acquisition by Amazon of Coinbase, the largest US-based cryptocurrency exchange.
In November, CNBC reported that Amazon’s domain registrations indicated it was preparing to accept crypto payments. However, to date, the retail giant has not started receiving digital payments.