Banking News Retail

Amazon downplays Bitcoin payment speculation

amazon

Amazon has denied reports that it could be accepting Bitcoin payments by the end of the year.

Citing an unknown source, a report from London’s City A.M. newspaper said that Amazon is “definitely” looking to accept Bitcoin, and is even considering its own token for 2022. 

“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work,” the source told City AM.

“It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”

However, Amazon responded firmly with a spokesperson telling Reuters, “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

“We remain focused on exploring what this could look like for customers shopping on Amazon.”

This comes a day after Amazon posted a job advertisement for a digital currency and blockchain lead, which fuelled the Bitcoin speculation.

Meanwhile, other big techs have started to accept cryptocurrency. Paypal has enabled retailers to accept cryptocurrencies for payment since late March, and Visa and Mastercard have supported cards issued by crypto exchanges for some time. Twitter announced that it plans to power new Twitter business models using Bitcoin.


Image Copyright: lenta / BigStock Photo