Bitcoin

Airbnb allows the introduction of cryptocurrency payments

The Airbnb Short Term Rental Service has submitted a prospectus to the US Securities and Exchange Commission (SEC) for its planned initial public offering (IPO). In it the company allowed for Bitcoin Up the possibility of adding cryptocurrency payments in the future.

„Future success will depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrency and new authentication technologies,“ she writes.

Going forward, Airbnb mentions distributed registry and blockchecks, along with biometrics, artificial intelligence, virtual and augmented reality, as likely important areas for future development.

„As a result, we intend to continue to allocate substantial resources to support and develop our technologies and platform. However, these initiatives may be more costly than expected and may not be successful,“ adds Airbnb.

Earlier Airbnb stated that it did not plan to accept bitcoin in its service, although it acquired a start-up for its ChangeTip cryptographic donations in 2016.

Airbnb expects to list on the Nasdaq Global Select market under the ticker „ABNB“. According to Reuters, the company plans to raise around $3 billion through the IPO, valued at more than $30 billion.

The prospectus states that the company has been able to end the third quarter of 2020 with a profit despite the limitations of the Coronavirus Pandemic which have directly affected its business. In order to do so, it had to cut back dramatically on costs and cut back a quarter of its employees in the second quarter.

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