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Avnet, one of the world's largest distributors of electronic components and services, now accepts cryptocurrency payments through a partnership with the blockchain payment processor BitPay.
The Fortune 500 company announced Tuesday that its customers could now pay in bitcoin (BTC) and bitcoin (BCH) products and services. BitPay then verified and processed these payments.
"We are working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not on how to pay for them," said Sunny Trinh, vice president. Avnet.
Cryptocurrency payments can reduce the "time, cost and complexity of bringing products to market," said Avnet, adding that it has already closed "several million cryptocurrency transactions" in the first month following the acceptance of cryptocurrency payments.
The news makes Avnet the third largest technology company in the US (behind Microsoft and Dell) to accept payments in bitcoins, said an Avnet spokesperson at CoinDesk.
BitPay sales manager Sonny Singh said:
"Paying with bitcoin is not only easier and faster than with credit cards and bank transfers, it is cheaper and its acceptance is growing."
Avnet is also working with Bitcoin.com to develop a new hardware portfolio for crypto-currency storage and offering the "highest security level" for transactions, according to the ad.
In January, BitPay announced that it has processed more than $ 1 billion worth of cryptocurrency transactions in 2018 for the second consecutive year.
Image selected with permission from Avnet
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