Fortune 500 company, Avnet, works with BitBay to add payment option with Bitcoin and Bitcoin Cash
Avnet,Inc., one of the largest distributors of electronic components and technology solutions in the world, has announced a collaboration with the crypto-monetary payment processor BitPay to accept the cryptocurrency of the company’s services and products. The development was disclosed in an official press release published onMarch 19.
Avnet, Inc., which is listed on the Fortune 500 for 24 years, had an annual income in 2018 of more than USD 19 billion.
The press release writes that Avnet will accept the payment with Bitcoin (BTC) or Bitcoin Cash (BCH), while Bit Pay will verify the funds purchased and complete the transaction. The company also announced that it had “closed several multi-million dollar cryptocurrency transactions in the first month of accepting Bitcoin”, specifying that this also includes working with Bitcoin.com in a new hardware wallet.
The company’s ability to accept cryptocurrencies will give Avnet customers more options to complete their financial translations, according to the company. The press release says:
“By accepting Bitcoin as a payment option, Avnet continues to break the barriers faced by customers when they introduce their ideas to the market by allowing easier access to their exclusive end-to-endecosystem of design, product, marketing and supply chain. at each stage of the product’s life cycle”.
As Cointelegraph reported on January 30, BitPay also partnered with the Wikimedia Foundation, the non-profit and charitable organization that operates Wikipedia, to offer the ability to accept donations incrypt ocurrencies.
And,earlier today, the online Swiss retailer, Digitec Galaxus, announced that it would accept 10 different cryptocurrencies as payment for its products.
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