US shoppers can now purchase different goods on online stores like Amazon, Walmart, and eBay with eGold, the native token of Elrond, through Shopping.io. The development today comes amid Elrond’s partnership with Shopping.io, which is a blockchain-based marketplace that combines all major e-commerce companies.
Spending eGold on Amazon, Walmart
The addition of Elrond’s eGold on Shopping.io as a payment option is considered a milestone, as it extends the token’s utility. eGold holders can easily exchange the cryptocurrency for items on these major e-commerce companies without incurring transaction fees or conversion costs. The integration is expected to be completed on April 8, according to the announcement on Tuesday.
“We value the experience of our customers above everything else, and we’re therefore excited to offer them the possibility of using the eGold and Maiar combo for making purchases on our platform.” the owner of Shopping.io, Arbel Arif, commented.
Shopping.io was first initiated by a group of drop shippers who wanted to make the act of shopping online easier. To achieve this, combined major e-commerce platforms into one website, allowing users the option to purchase items from those companies using cryptocurrencies as a form of payment.
They have already drawn in large companies such as Amazon, eBay, and Walmart to be part of this innovative idea to streamline the shopping experience. With time, they hope to successfully integrate one of the sought-after e-commerce platforms, Alibaba.
US online retail volume surge by 44% in 2020
In the United States, the online retail market has been growing significantly. Reportedly, the US saw an upsurge in volumes up to 44 percent in 2020, reaching a market capitalization of $861 billion. This is considered the highest value in the US e-commerce industry for the last two decades. This isn’t surprising as the world is increasingly gearing towards the digital era, which was fueled by the recent coronavirus outbreak.