Amazon might not accept cryptocurrency but may sell NFTs later on: Andy Jassy

Amazon CEO Andy Jassy believes in the potential of cryptocurrencies. However, the company is not likely to start accepting cryptocurrencies on its retail platform anytime soon. Speaking at an interview with CNBC Jassy said “I don’t have bitcoin myself.”

“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,” he added in the interview that took place after he released his first annual shareholder letter since taking over from Amazon founder Jeff Bezos.

However, he did express his faith in cryptocurrencies and NFTs. “I do believe over time that you’ll see crypto become bigger,” he said adding, “I expect that NFTs will continue to grow very significantly.”

When asked if Amazon would start selling NFTs one day, the Amazon CEO said, “I think it’s possible down the road on the platform.”

Amazon has already signaled its interest in blockchain and blockchain-based applications. Last year, the company was looking for a blockchain and digital currency expert to join its payments team. A job listing on Amazon’s platform at the time revealed that the company was looking for an “experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.”

The role and responsibilities included leverage “domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”

Interestingly, Amazon still has openings in AWS’s Blockchain team. The company is looking for a Product Manager, Blockchain, AWS Blockchain “to drive roadmap, feature definition and go-to-market strategy of the AWS product offering across the rapidly evolving and broad landscape of blockchain technology and use cases.”

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Conclusion

Amazon CEO Andy Jassy believes that cryptocurrencies will continue to grow and Amazon is not likely to start accepting cryptocurrencies on its retail platform anytime soon even though it has expressed interest in blockchain and blockchain-based applications.