Will Amazon become a bank with crypto coins?
Will Amazon become a bank with crypto coins?
E-commerce giant Amazon is increasingly building its way into everyday life. Besides shopping at Amazon and Whole Foods, reading at the Kindle, watching video via Prime Video and talking with assistant Alexa, the company of the richest man in the world now also wants to focus on financial transactions. It is possible that crypto coins can be used there.
According to The Wall Street Journal, Amazon is discussing with various banks to offer a type of savings account to its customers. It is not the intention to become a bank, Amazon would have to follow too many rules. But a savings account can quickly evolve into loans, banking services and investment products.
In addition, there are also rumors that Amazon would deposit on crypto coins. Most customers of Amazon have already won. Last year, the Jeff Bezos company registered some domain names in which crypto coins were processed.
When Amazon will offer a sort of savings account to its customers, it can reduce the costs of its financial transactions and receive much more data from its customers. The retail giant mainly targets young people and those who do not have a bank account. According to The WSJ, JP Morgan, Bank of America and Capital One are in the running for this lucrative agreement.
The Amazon Coin
- A survey shows that 49.6% of customers would open a savings account with Amazon. 17% have even more confidence in Amazon as a financial institution than a traditional bank. 38.3% have at least as much confidence. 50.30% said they would use Amazon for a loan.
- The same study also shows that 51.7% is in favor of the use of a crypto coin, issued by Amazon. 58.7% of the Amazon Prime users see a sort of Amazon Coin.
maybe because of the increased crypto interest