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Amazon CEO says not adding cryptocurrency as payment option anytime soon

Published 14/04/2022, 14:09
Updated 14/04/2022, 14:36
© Reuters. FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid.

(Reuters) -Amazon.com Inc Chief Executive Officer Andy Jassy said the e-commerce giant is not close to adding cryptocurrency as a payment option to its retail business, in an interview with CNBC on Thursday.

He also said it might be possible to sell non-fungible tokens (NFTs) on its e-commerce platform and expects NFTs to continue to grow "significantly."

NFTs, a type of digital asset that exist on a blockchain, have exploded in popularity in 2021, with NFT artworks selling for millions of dollars.

Jassy said cryptocurrencies will become bigger in the longer term, but added he himself does not own any bitcoin.

A growing number of companies have started to accept virtual currencies for payment, bringing an asset class shunned by major financial institutions until a few years ago closer to the mainstream.

Last year, eBay Inc (NASDAQ:EBAY) allowed the sale of NFTs for digital collectibles like trading cards, images or video clips on its platform, the first e-commerce company to tap into the frenzy around NFTs.

EBay had also said it was open to the possibility of accepting cryptocurrency as a form of payment in the future.

Latest comments

One business, however large, will have no effect on the future much increased value of Cryptocurrency’s.
They are all intimidated by the US Govt that sees in Crypto a major threat to its ability to print worthless dollars. Cowards. They obey the System instead of doing what their customers want. History will judge them for slowing the progress.
No expert in crypto - but that sounds pretty plausable
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