May 20, 2022
Amazon CEO Andy Jassy

The CEO of Amazon has said that the e-commerce giant won’t be adding cryptocurrency as a payment option for customers any time soon.

Speaking to CNBC, Andy Jassy confirmed that his company has no plans to introduce crypto payments at present, but did acknowledge that he expected digital currencies to become bigger, hinting that such a move may be considered by Amazon in the future.

“We’re not probably close to adding crypto as a payment mechanism in our retail business, but I do believe over time that you’ll see crypto become bigger,” Jassy told CNBC’s Andrew Ross Sorkin.

The announcement may come as a surprise to some, with a number of commentators predicting Amazon would move to accept crypto payments in light of developments at the company.

Last year Amazon was advertising for a digital currency and blockchain expert to join its payments team, an appointment that many were sure indicated such plans were afoot.

Many companies have already started accepting cryptocurrencies for payment. Microsoft was an early adopter of Bitcoin when it started accepting the digital asset as payment in 2014, and since then a number of firms have followed in their footsteps.

Jassy also spoke about non-fungible tokens (NFTs), seemingly more open to the possibility of featuring this type of asset on the Amazon website.

“I think it’s possible down the road on the platform,” he said

Last year, eBay allowed the sale of NFTs on its platform, the first major e-commerce company to offer the asset type on its platform. Many have expected Amazon to follow suit, and Jassy’s latest comments will only heighten such speculation.