Rumor: Braintree Exploring Bitcoin
Aug. 18, 2014
Published reports indicate Braintree, the online and mobile payments provider acquired by eBay last December, is in talks with bitcoin-acceptance providers that would enable the PayPal unit to process bitcoin transactions for its merchants. Braintree, which offers payment gateways and merchant accounts for several well-known Web- and mobile-only companies including Airbnb, Basecamp, Hotel Tonight, OpenTable and Uber, has evaluated several companies, including Coinbase, that would provide it the capability to offer bitcoin acceptance to its merchants, according to the Wall Street Journal.
Given Bitcoin’s checkered past, the volatility of its traded value and that it is not backed by the central bank of any government, regulators around the world have been struggling over the proper way to oversee Bitcoin payments. But, as major retailers like Overstock and Dell announce they will accept the digital currency and payment providers like Digital River offer the ability to their merchants, Bitcoin continues to gain momentum and acceptance by the mainstream.