E-commerce giant eBay is on track to add support for cryptocurrency payments as soon as this March, according to a recent report published by The Street.
CEO Jamie Iannone says that the new payment option is meant to attract younger customers:
On March 10, we're going to go deeper on all of these things, payments, advertising, our focus categories.
A slew of surveys shows that millennials tend to be the most crypto-friendly demographic, which explains eBay's upcoming pivot to crypto.
The popular e-commerce platform has so far shied away from fully embracing cryptocurrencies despite starting to dabble in non-fungible tokens last May.
There was some speculation that eBay was readying to accept cryptocurrencies in 2019, but the company swiftly moved to deny such rumors.
The online auction house eventually stated that it was seriously considering enabling crypto payments amid massive speculative interest in the nascent asset class.
Tomiwabold Olajide
Godfrey Benjamin