Jeff Bezos has reportedly directed Amazon to look into considering cryptocurrencies as legal payment by 2022. A team of crypto experts are examining the possibilities to partner with coins that are available for less than a cent or in reach within a dollar.
An insider revealed that the Amazon team is presently looking into four different cryptocurrencies and AMP Token is one among the coin on the table. Apart from AMP Coin, the team is also looking at Shiba Inu, Matic and HOKK.
However, among the four options the team is examining for potential collaboration, the insider claimed only two coins would be finalized as legal payment on the website's check-out page and would AMP make it to the top two remains unknown.
The sole reason Amazon is looking at incorporating lesser valued coins is they're easily accessible and much affordable for customers to purchase and pay, while not every individual is comfortable buying Bitcoin and Ethereum as the price is high and would not meet the net target of a wider audience.
AMP crypto at the time of publishing was trading at $0.05806 and is down -4.69% in the day's trade. The coin had reached an all time high (ATH) of $0.12081 on June 16, 2021 and is currently down -52.13% from its ATH.
Stock market and cryptocurrency analyst Del Crxpto was the first to reveal that Amazon is in line with considering AMP Coin as legal payment.
''Amazon denies plans to accept BTC, this is in line with my sources who say Amazon is currently investigating several projects with plans to accept crypto payments from at least 2 cryptos in 2022. So far the rumored projects I have heard are: $SHIB, $AMP, $MATIC, $HOKK,'' he tweeted.
Reports are also doing the rounds that Amazon would soon launch its own coin and give the other cryptos trading in the market a run for their money.
A few months ago, Amazon had listed a job opening on their website looking for candidates who have experience in blockchain technology.
The job listing read that the ideal candidate needs to have knowledge in ''leverage domain expertise in blockchain, distributed ledger, central bank digital currencies and cryptocurrency.''
However, after the news broke out that Amazon would consider accepting cryptocurrencies as payment, the e-commerce giant pulled down the job listing and has remained tight-lipped about the development and kept things under wrap.