Ebay mulls letting users pay in Bitcoin

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The deal is expected to close later this year or early next year, as it is pending approval from the Bank of Korea.

Cryptocurrency is one of the new payment options EBay is exploring for customers, CEO Jamie Lannone has said.

In an interview with CNBC, Lannone said the e-commerce firm is also exploring ways to get in to the business of non-fungible tokens (NFTs) – unique tokens stored on blockchain that have recently become popular among those in the entertainment business.

NFTs can be issued by anyone, but they have scarcity because each token is unique, and shows ownership of a specific asset – virtual or tangible. 

Bitcoin is the world’s most popular cryptocurrency and one Bitcoin is currently worth nearly $58,000.

If EBay goes ahead with the plans it will be one of the first businesses in the world to offer cryptocurrency as a form of payment, joining likes of Tesla and WeWork in accepting cryptocurrency in exchange for goods or services.