Ebay hints at imminent cryptocurrency integration

Ebay has hinted that it could start accepting cryptocurrencies with a range of adverts posted at the blockchain and cryptocurrency conference Consensus.

As one of the main sponsors of the event, which has hosted the worlds leading cryptocurrency figures in New York every year since 2015, Ebay installed numerous advertorial placards reading: “Virtual Currency. It’s happening on Ebay”.

This has understandably caught the attention of the conference’s investors and developers, alongside mainstream media as images of the placards were posted online.

READ MORE: Cryptocurrency adoption in retail: why merchants are joining the financial revolution

Many have speculated that its choice of the term “virtual currency”, as opposed to specifically referring to a brand name like Bitcoin, could mean it is planning to launch its own cryptocurrency.

Others have suggested that it could refer to an upcoming partnership with a third-party payments platform, which would accept various digital currencies and convert them to conventional cash.

In September 2018, cryptocurrency payments platform UTRUST hired the former Ebay and Paypal executive Sanja Kon to head up its global partnerships division, leading many to suggest the two companies could soon partner.

Ebay is understood to have been considering integrating cryptocurrencies for some time, with the senior vice president of Ebay Americas telling Yahoo Finance in 2017 that it was “seriously considering” accepting Bitcoin, adding that the company was “not quite there yet.”

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