Amazon CEO: There are no immediate plans to embrace cryptocurrency, but NFTs will boom

While the popularity of cryptocurrencies continues to increase and an increasing number of businesses accept Bitcoin (BTC) and Ethereum (ETH) as legal payment methods, not all businesses are yet ready to take the crypto leap.

Amazon Inc (NASDAQ: AMZN), for example, is one of the platforms that, for the time being, is not anticipating hopping on the crypto bandwagon, as Chief Executive Officer Andy Jassy said in an April 14 interview with CNBC.

At the same time, Jassy voiced hope for the crypto industry’s future in general, stating that
“We’re possibly not close to adopting cryptocurrency as a payment method into our retail company, but I think that over time, you’ll see crypto grow in popularity.”

When questioned about the chance of Amazon selling non-fungible tokens (NFTs) in the future, Jassy, who is not a Bitcoin or NFT owner himself, said that he could see a scenario in which the firm begins selling NFTs.
“I believe that is conceivable on the platform down the road,” he remarked.

If Amazon chooses to implement this option, it will be following in the footsteps of eBay Inc.
Since May 2021, eBay (NASDAQ: EBAY), one of Amazon’s top retail rivals, has permitted the selling of NFTs for digital collectibles like trading cards, photos, or videos on their site. Additionally, it has stated an interest in taking payments in digital currencies in the near future.

Many felt that Amazon, too, was on the point of launching cryptocurrency payments when the site advertised for an “experienced product leader to establish Amazon’s Digital Currency and Blockchain strategy and product roadmap” in July 2021.

Meanwhile, a rising number of businesses have begun accepting cryptocurrencies as payment for their services and/or goods, contributing to the new asset class’s global appeal and acceptance.

Also Read: Bitcoin Could Reach $100K ‘Within 12 Months, According To Nexo Co-Founder