E-commerce giant eBay Inc (NASDAQ:EBAY) unveiled its first digital wallet on Thursday in a presentation to investors, following media reports from its CEO hinting at accepting cryptocurrency payments.
What happened: The online marketplace told investors that its digital wallet would hit the market in Q2 and would allow customers to use the proceeds from their sales to buy their next item or pay their sales fees.
“We see incredibly attractive growth potential in this market and believe this is our opportunity to win by sharpening our focus and continuing to create value through a technology-led reinvention of eBay,” said CEO Jamie Iannone.
Why it matters: Digital wallets are software systems that securely store payment information. These may also store private keys that would facilitate payments in cryptocurrencies such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).
Last month, Iannone stated that eBay is studying the possibility of adding cryptocurrency as a means of payment, adding that the announcement of Investor Day on March 10 would mark the start of a new payment strategy.
Price action: eBay shares traded 0.34% lower after the bell Thursday.
Photo by ebayinc on Wikimedia
This post eBay Shows Digital Wallet: Could It Be Accepting Cryptos Like Bitcoin, Ethereum, Dogecoin? – eBay (EBAY) was original published at “https://www.benzinga.com/markets/cryptocurrency/22/03/26094817/ebay-showcases-digital-wallet-could-it-be-gearing-to-accept-cryptos-like-bitcoin-ethereum-“