HomeeBay considering accepting crypto payments to attract gen-Z and millennial users

eBay considering accepting crypto payments to attract gen-Z and millennial users

Charles Thuo

According to Street reports, E-commerce giant eBay said that it is considering accepting crypto payments to attract generation Z and millennial users. According to credible sources, the official announcement is expected to be made during Ebay’s Investor Day on March 10.

eBay CEO Jami Lannone said that the platform is keen on targeting the young demographic. In specific, the CEO said that the platform would focus on transactions related to collectible sneakers among other growing crypto trends.

eBay already approved NFTs trading on its platform as of last year to tap into the rising popularity of NFTs around the world. However, eBay does not currently allow crypto payments.

Jami Lannone said:

“We’re not accepting crypto currently. But on March 10, we’re going to go deeper on all of these things, payments, advertising, and our focus categories. eBay will be the place where people trade goods, whether they be physical or digital.”

The growing list of firms allowing crypto payments

Some of the renowned names that allow users to use crypto payments include payment gateway PayPal, online retailer Overstock, Theatre operator AMC, streaming site Twitch, and Tesla.

Overstock accepts Bitcoin payments while Tesla, which previously allowed Bitcoin payments but later dropped it citing environmental concerns, now accepts Dogecoin (DOGE) as payment for its merchandise.

The main impediment against the widespread adoption of cryptocurrencies around the world is the lack of proper regulations across nations around the globe. The crypto space has had to contend with numerous tides ranging from bans in various countries to restrictions on certain activities.

China for example has been on the headlines for banning crypto activities within the country led to different exchanges and crypto service providers to close their businesses in China and look for greener pastures in other crypto-friendly countries like the USA.

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