eBay and Libra have teamed up to “explore” cryptocurrency as “a trusted, accepted and stable cryptocurrency [on] eBay’s marketplace.”
eBay.com today announced their partnership with global currency supplier Libra to “expand global ecommerce and make it more frictionless and affordable for consumers.” eBay say that there is a growing opportunity with emerging technologies like blockchain and cryptocurrency to spur a new way of connecting around the world. eBay predicts that blockchain and cryptocurrency will inevitably change the way people connect and pave the way for a redefined commerce.
The move aims to make eBay shopping experience “easier and more seamless” for shoppers globally. However, eBay say that cryptocurrency is still very much in its infancy when it comes to practical consumer application and adoption.
eBay and Libra will work together to develop a global cryptocurrency Libra Blockchain. eBay will help to design the payments innovation according to their expertise. eBay say that they will bring their “unique perspective and experience with massive scale, infrastructure and product development to contribute to its success.”
What are the benefits for eBay sellers?
eBay attributes the creation of the cryptocurrency to enabling a more seamless shopping experience to help their merchants succeed.
eBay say that they want to “ensure that [their] seller inventory is accessible to buyers around the world, and those buyers have the ability to use their preferred payment method.” eBay also aim “to lower transaction costs for [their] sellers and make their businesses more profitable.”