Reddit chief technology officer Chris Slowe recently indicated that the platform’s decision to abandon support for digital currency payments will likely be reversed in the near future. In an interview with Cheddar, Slowe suggested that Reddit is also looking at expanding crypto payment options to include not just Bitcoin, but Ethereum and Litecoin as well.
Slowe explained that Reddit’s March decision to ban Bitcoin payments was the result of several factors, including high fees on the Bitcoin network and the time constraints involved in upgrading the platform’s API integration to make it compatible with Coinbase’s new merchant payment service.
When asked if Reddit intended to support only Bitcoin, Slowe said:
“We’ve been looking at other cryptocurrencies. In fact, that was part of the issue with the high fees on the Bitcoin network. We’re looking at Ethereum, and also looking at Litecoin that are provided both by Coinbase as well. Turns out that their version of the Merchant Tools that we were using didn’t actually provide access to the Ethereum and Litecoin exchanges – so we had to only use Bitcoin. So, I think if they’re actually fixing that, then we’ll probably jump back on and have more options available.”
Coinbase launched its new Coinbase Commerce merchant service earlier this year, to replace its Coinbase Merchant Tools product. In a March post on Medium, the company set a May 31 deadline for migrating Merchant Tools users to the new service.