Binance CEO Changpeng Zhao Predicts Amazon Will Launch Its Own Crypto
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Binance CEO predicts Amazon will ditch fiat in crypto’s favor
Binance CEO Changpeng Zhao seems to have a dilemma these days. It looks like he cannot understand why every business on the Internet isn’t already accepting digital assets.
He made his thoughts known on Twitter and in a tweet, he predicted that the e-commerce giant Amazon would eventually end up launching its very won crypto.
This is not even the first time when Zhao highlighted that Amazon is a major potential adopter of digital currencies.
For any internet (non-physical) based business, I don't understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integration than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography.
— CZ Binance (@cz_binance) February 2, 2019
Back in December 2018, he said that he was waiting for Amazon to ditch fiat currencies for cryptos.
It’s also important to note that Amazon bought three cryptocurrency-related domains late last year: amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com.
Easier to bring crypto to him. waiting for the day Amazon accepts (or issues) crypto.
— CZ Binance (@cz_binance) December 8, 2018
They also own amazonbitcoin.com. Amazon Web Services is also heavily invested in blockchain solutions.
Amazon resellers are caught in the trade war between the US and China
Zhao’s precision comes amidst the trade war between China and the US.
CNBC has recently reported that “Many big Amazon sellers received a notice this week from a company they rely on for international money transfers. The message from WorldFirst, which is based in London, was alarming: its U.S. business was closing immediately.”
They continued and explained that “We are writing to share some news that affects you as a US-based customer of WorldFirst,’ the email said. ‘The WorldFirst shareholders have decided to discontinue the US operations. As such, we will no longer be able to offer our products and services to you.’”
If Amazon were to use crypto, that would be a huge move towards mass adoption.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.