Amazon is ‘not close to adding crypto as a payment method’

Third-party websites like purse.io allow you to shop with Amazon's extensive catalogue and pay with crypto

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After rumours circulated suggesting Amazon might add cryptocurrency as a payment option to its e-commerce platform, Amazon CEO Andy Jassy has quickly shut the rumours down.

In an interview with CNBC, Jassy said the e-commerce giant is not close to adding cryptocurrency as a payment option, though he believes in the asset class’ future, and that cryptocurrencies will “become bigger in the longer term.” In addition to digital currencies, Jassy also commented on Non-Fungible Tokens (NFTs), saying that it might be possible to sell NFTs on Amazon one day, and that the digital asset class that is currently plagued by scammers will “continue to grow significantly.”

Regardless, people can still shop off Amazon and pay with crypto — though not directly. Third-party websites like purse.io allow you to shop off Amazon’s extensive catalogue and pay with Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Zcash.

A lot of big companies have either started accepting cryptocurrencies as a payment method, while others have integrated the digital assets in some capacity.

For example, eBay allowed listings of NFTs on its platform as ‘Digital Collectibles,’ with the possibility that it will start accepting crypto as a payment method in the future. Twitter, on the other hand, allows its users to tip their favourite creators with Bitcoin, whereas Meta CEO Zuckerberg said last month that NFTs will arrive on Instagram ‘in the near term.’

Source: CNBC