British Business Daily: Amazon to accept Bitcoin payments by the end of the year, exploring the creation of its own native token

Anonymous sources have indicated that e-commerce giant Amazon is planning to accept Bitcoin payments by the end of 2021, with this being just the first phase involving the realm of cryptocurrencies. Subsequently, they will gradually support eight different cryptocurrencies, with this decision coming from the top, namely CEO Jeff Bezos himself.

According to an anonymous source cited by the UK's CityAM, once a secure and fast Bitcoin payment system is established, Amazon will introduce Ethereum, Cardano, Bitcoin Cash, and other mainstream and popular cryptocurrencies.

The source emphasized that this process will not take too long, as Amazon has been preparing for this since as early as 2019.

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Update: However, this news has since been firmly denied by Amazon. According to a report from Coindesk, an Amazon spokesperson stated that the company has no plans to accept Bitcoin payments, "While we are interested in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true."

Creating Native Cryptocurrency?

She also mentioned that after various crypto payments are ready and operational for a year, Amazon is very likely to move towards tokenization, meaning launching its native token, creating a payment ecosystem where users can earn cryptocurrencies through loyalty programs when paying for goods and services.

She pointed out:

It is certain that the Bitcoin payment mechanism will be closely monitored and reviewed, as this is an opportunity for Amazon to explore its native token.

Amazon Recruiting Blockchain Talent

Earlier reports stated that Amazon had posted a job advertisement seeking a digital currency and blockchain product lead. The content mentioned:

"The Payment Acceptance & Experience team is seeking an experienced product leader to develop Amazon's digital currency and blockchain strategy and product roadmap, leveraging expertise in blockchain, distributed ledger, central bank digital currencies, and cryptocurrencies to work closely with the Amazon team to develop products."

The anonymous source emphasized that it can be easily inferred where Amazon is heading in the future. It is not just about having someone join to build a payment solution; it is an integral part of Amazon's internal, crucial future blueprint through thorough discussions.