Could It Be Gearing To Accept Cryptos Like Bitcoin, Ethereum, Dogecoin? By Benzinga

E-commerce giant eBay Inc (: NASDAQ:) on Thursday showcased its first digital wallet in a presentation to investors, coming on the heels of media reports of its CEO hinting at accepting payments in cryptocurrency.

What Happened: The online marketplace told investors that its digital wallet would hit the market in the second quarter and enable customers to use proceeds from their sales to buy their next item or pay their selling expenses.

“We see incredibly compelling growth potential in this market and believe it is our opportunity to win by sharpening our focus and continuing to create value through a tech-led reimagination of eBay,” said CEO Jamie Iannone.

Why It Matters: Digital wallets are software systems that securely store payment information. These are also capable of storing private keys that would facilitate payments in cryptocurrencies such as (CRYPTO: BTC), (CRYPTO: ETH), and (CRYPTO: DOGE).

Last month, Iannone went on record to state that eBay is studying the possibility of adding cryptocurrency as a means of payment, and added that its March 10 investor day announcement would mark the start of a new payment strategy.

Price Action: eBay shares traded 0.34% lower after the bell on Thursday.

Photo by ebayinc on Wikimedia

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.