Coinspeaker
Amazon’s Interest in Crypto Will First Lead It to RegTech, and Sekuritance Will Be Waiting

Only a year ago, PayPal was still harshly rejecting even the idea of delivering money to cryptocurrency exchanges. Today, it offers crypto on its own platform in the US, and is seemingly working on expanding this offering to Ireland, and likely many other European countries.

Only a few months ago, having a country officially accept Bitcoin as legal tender was something that most wouldn’t dare to even imagine for years to come. These days, everyone is talking about El Salvador’s plans of doing just that.

Institutional investors are joining the crypto industry through companies like Grayscale and MicroStrategy, massive corporations are beginning to accept it, the DeFi sector is attracting users from all over the world, and more. With that in mind, it is understandable why the crypto industry jumped on the rumor that Amazon might be in the process of enabling Bitcoin payments on its platform.

After all, if the world’s largest online payment system can do it, why not the world’s largest store? However, this doesn’t appear to be true at this time, as Amazon strongly denied such speculation about a week ago, in the final days of July 2021.

Amazon Is Not Planning to Accept Bitcoin Payments at This Time

While the idea of Amazon accepting Bitcoin seems more than plausible given the recent events, the company stated last Monday that such rumors are untrue. Specifically, it said that the rumors of it accepting Bitcoin payments by the end of 2021 are false, and it also dismissed the rumor that it is preparing to issue its own token.

However, the company did not say that it doesn’t want to have anything to do with cryptocurrencies. In fact, it admitted that it is looking into crypto developments, as well as what this could mean for Amazon users.

The rumors themselves seem to have been sparked by a report published earlier that same day by CityAM, which said that its information is coming from an unnamed inside source, familiar with the matters. But, it is possible that the information was misinterpreted, as the company is clearly claiming otherwise.

Even so, Amazon does have an interest in the crypto and/or blockchain sector, and given the fact that the firm has always been careful from the legal perspective, any move to join up with the crypto industry will undoubtedly lead to RegTech, which is the domain of Sekuritance.

Sekuritance Will Be Waiting When Amazon Decides to Approach Crypto

Sekuritance is a RagTech and RiskTech company that can help any business, large or small, with regulatory compliance in regard to the crypto industry. This is why it has already partnered with many major firms that are looking for a gateway into the crypto industry. It is also why it can be expected that Amazon could, and even might, team up with it once it decides to ‘go crypto.’

The CEO of Sekuritance said as much, noting that “Despite Amazon rejecting rumors that they will soon support Bitcoin payments, they’re still interested in the crypto space. One thing is for certain, RegTech is something Amazon will be focusing their efforts on above all else. Sekuritance is well-positioned to be one of its strategic partners in this space to help with the onboarding, on-chain analysis, and other tools to ensure a smooth user journey whilst safeguarding both the interests of the customer as well as its own reputation in the space.”

Being the leader in the RegTech and RiskTech sector, Sekuritance would be the obvious choice for Amazon, as well as any other company interested in joining the crypto industry. Now, the question of when this might happen is a different matter, as Amazon openly said that it will not be happening by the end of 2021. However, with less than six months before the end of the year, this is not surprising.

Perhaps next year, the retail giant might decide to give Bitcoin a chance, and like PayPal before it, adopt it permanently.

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Amazon’s Interest in Crypto Will First Lead It to RegTech, and Sekuritance Will Be Waiting