An international corporation dealing with global e-commerce “seriously considers” cryptocurrencies as a method of payment

02/13/2018

According to Cutler, an e-commerce portal can accept cryptocurrencies as payments. Management has signaled that eBay is analyzing digital currencies, but is not yet ready to accept them. Cutler stated:

This is a trend everyone is talking about, but unfortunately we currently do not accept Bitcoin as a payment method on eBay. We seriously consider this move because cryptocurrencies are becoming more and more common

EBay announced its plan to opt out of PayPal as a payment option from its website, referring to the poor PayPal score on the stock exchange (PYPL). On 31 January 2018, Cutler announced that it had signed an agreement with Adyen, a payment services company in Amsterdam, which would become the main eBay service provider. More importantly, Adyen has also worked with BitPay, a popular cryptocurrency payment platform that will enable all Ayden customers to use their services.

It is therefore possible that eBay may accept cryptocurrencies due to cooperation with Adyen.

Cryptocurrencies are gaining global popularity, and the current market capitalization is $ 433 billion. Initially, bitcoin was to replace fiat and become a currency like any other. However, due to network overload problems, most cryptocurrency enthusiasts treat them more as a kind of value asset.

Despite these scaling difficulties, the rise in the digital currency has created many modern payment networks, such as PayPal. Interestingly, Max Levchin, co-founder of Paypal, said in the past:

It’s a brilliant idea, fantastic technology, interesting topic for speculation

For today’s president eBay Americas Scott Cutler believes that his company is not ready for such a big move, but it seems realistic to introduce a payment in the cryptovalce by 2020.