Ebay Payments Unit in Talks to Accept Bitcoin

bitcoin

Ebay Inc’s (EBAY.O) PayPal is in talks with Coinbase Inc and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street...

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bitcoinEbay Inc’s (EBAY.O) PayPal is in talks with Coinbase Inc and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street Journal reported on Thursday.

EBay Inc. has been quietly working to integrate acceptance of the virtual currency into its Braintree payments subsidiary, part of its PayPal unit, according to people familiar with the matter.

A deal would be an endorsement for a crypto currency, which is gaining acceptance with a slowly growing number of businesses, including online retailer Overstock.com. But some industry executives have warned about the risks of an unregulated currency.

„We do believe that Bitcoin will play an important role in payments in the future, but we have nothing to announce,“ eBay spokeswoman Jennifer Hakes said.

Bitcoin is created by computers solving complex math problems. Once created, bitcoins can be traded on currency exchanges or used as money to purchase goods and services from merchants that accept it.

 

Picture: WSJ

Some of the text: WSJ

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