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Amazon eyes cryptocurrency but not poised for Bitcoin

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/reuters/07/27/bitcoin.jpg"/><figcaption>Representations of cryptocurrency Bitcoin are seen in this picture illustration taken June 7, 2021. <em>Edgar Su, Reuters/Illustration/File Photo</em></figcaption></figure></div><p>NEW YORK, United States -- Amazon on Monday denied a report that the e-commerce giant planned to begin accepting Bitcoin payments by the end of this year, but acknowledged an interest in cryptocurrency.</p><p>City AM cited an unnamed insider as saying Amazon would start taking cryptocurrency, citing a recent job posting by the company for someone with digital currency and blockchain skills.</p><p>Contacted by AFP, an Amazon spokesperson said information in the story was &quot;fabricated,&quot; but that the company does have its eyes on the cryptocurrency sector.</p><p>&quot;Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true,&quot; the spokesperson said.</p><p>&quot;We remain focused on what this could look like for customers shopping on Amazon.&quot;</p><p>Cryptocurrency values climbed on speculation that it might be accepted for Amazon purchases.</p><p>&quot;We&#x27;re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like at Amazon,&quot; the spokesperson said.</p><p>&quot;We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.&quot;</p><p>After dipping from early May to mid-July, Bitcoin briefly rose above $40,000 on Monday before losing ground. It was trading at $37,209 about 2300 GMT on Monday.</p><p>The cryptocurrency sector is known as a bit of a roller coaster ride for investors, and is being watched warily by authorities and regulators concerned about its lack of transparency.</p><p>Backlash by governments caused Facebook to scale back plans unveiled in 2019 for a global cryptocurrency called &quot;Libra.&quot;</p><p>The project, entrusted to an independent association, has shifted to fielding &quot;Diem&quot; stablecoins, a type of cryptocurrency whose value is based on select real-world currencies.</p><p>Amazon handles hundreds of billions of dollars in transactions annually, making it a huge marketplace for cryptocurrency to make a debut as legal tender.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/27/21/bitcoin-attracts-high-profile-interest">Bitcoin attracts high-profile interest</a></li>	<li><a href="https://news.abs-cbn.com/business/07/26/21/bitcoin-leaps-recent-peak-ether-3-week-high">Bitcoin leaps 12 percent to test recent peaks, ether hits 3-week high</a></li>	<li><a href="https://news.abs-cbn.com/business/06/09/21/bitcoin-legal-tender-el-salvador-crypto">Bitcoin is now legal tender in El Salvador</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1691406" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Amazon on Monday denied a report that the e-commerce giant planned to begin accepting Bitcoin payments by the end of this year, but acknowledged an interest in cryptocurrency.<br /> </p>

Amazon on Monday denied a report that the e-commerce giant planned to begin accepting Bitcoin payments by the end of this year, but acknowledged an interest in cryptocurrency.