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eBay Showcases Digital Wallets, Which Could Indicate A Move Toward Crypto Acceptance

eBay introduced its first digital wallet to investors at its 2022 Investor Day, fueling speculation that crypto payments were on the way. The wallet will be released in Q2 of 2022, according to the business, and will have a slew of functions for customers.

The wallet clip was included in a presentation presented to investors, but it’s simply another sign that the eCommerce site was on the verge of accepting cryptocurrency. Because of the increasing demand in NFTs in 2021, the firm already permits the sale of NFTs on its platform.

“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,”
So, Jamie Iannone, eBay’s CEO says.

The company was excited about the underlying possibilities and how blockchain-driven collectibles offer confidence and authenticity, crucial components to the digital environment, according to a company spokeswoman at the time.

Following the launch of the digital wallet, the company expects revenue to climb by 5% to 6% in 2023. Following the revelation, the company’s shares has dropped by almost 1% following a brief gain. Users of the digital wallet, according to the company, may effortlessly use the proceeds from their sales to purchase their next item.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.