eBay

The Facebook Libra cryptocurrency project is constantly losing the backing of mainstream giants. The latest businesses to quit cooperation with this digital currency include Visa, Mastercard, eBay and Stripe following suit after Paypal announcement to quit cooperation as regulators move on with scrutinizing Libra.

The San Jose, California-based giant e-commerce platform eBay has come out to deny rumors it will support digital currencies including the original cryptocurrency Bitcoin as a method of payment.

California-based e-commerce platform eBay is expected to pave the way for the creation of a favorable cryptocurrency environment. Their new ad hints that the giant might be preparing to accept digital currencies such as Bitcoin, Ethereum, Ripple, etc. on its website.

Although still an emerging sector, online marketplaces today corner 40% of the $1.3 trillion global e-commerce industry. Dominated by only a handful of giants who have become synonymous with buying and selling online, the likes of Amazon, eBay and Alibaba have found immense success with the low-risk, high-return drop ship based business model.