• Fri, 24 May 2019, 09:22 PM
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Fortune 500 company Avnet starts accepting bitcoin via BitPay partnership

Wed, 20 Mar 2019, 07:44 am UTC

Avnet, a U.S.-based technology solutions provider, has announced that it has started accepting cryptocurrency for its products and services via its partnership with blockchain payment provider BitPay.

Avnet said that the digital payment option will add flexibility and provide its customers with more convenient ways to complete their financial transactions.

In its official release, Avnet explained that when a customer elects to make payment using Bitcoin (BTC) or Bitcoin Cash (BCH), it will work with BitPay to verify the funds, process the order and complete the transaction. Avnet and BitPay will also have the ability to manage and process cryptocurrency requests outside the U.S. on a country-by-country basis.

“We’re working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them. Whether it’s Bitcoin or Bitcoin Cash, we can handle it,” said Sunny Trinh, vice president of demand creation, Avnet.

Avnet further said that it has already closed several multi-million-dollar cryptocurrency transactions within the first month of accepting bitcoin. This includes working with Bitcoin.com to develop a new hardware wallet that will further enable cryptocurrency storage and provide the highest level of security for transactions.

“As one of the largest global technology solution providers on the Fortune 500 list, Avnet is truly an innovative company that listens to the needs of their customers, as demonstrated by their decision to accept bitcoin payments,” said Sonny Singh, chief commercial officer, BitPay.

Earlier this year, the Wikimedia Foundation also partnered with BitPay to accept bitcoin cash (BCH) and bitcoin core (BTC) donations.

More recently, Digitec Galaxus AG, the largest online retailer in Switzerland, announced that it has started accepting bitcoin and other cryptocurrencies.

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