One of the world’s largest distributors of electronic components, Avnet will not accept crypto payments. The firm has partnered with blockchain payments processor Bitpay for the same. The customers can now pay via Bitcoin(BTC) and Bitcoin Cash (BCH) for services and products. Avnet now stands tall as the third largest company ion US to accept Bitcoin payments.
said Avnet vice president of demand creation Sunny Trinh.
As per Avnet, crypto payments time cost and complexities can be reduced. Further, the firm has sealed multi-million dollar crypto transactions within first few months of accepting crypto payments.
BitPay’s chief commercial officer, Sonny Singh, said:
Till January, BitPay had processed over $1 billion-worth of cryptocurrency transactions in 2018 for the second year in a row.
said Stephen Pair, BitPay co-founder and CEO.
As a matter of fact, the firm’s business-to-business venture increased about 255 percent year-on-year. This was because new clients including law firms, data center providers and IT vendors agreed to make crypto payments.
Avnet is a global technology solutions provider. It has an extensive ecosystem, which is into delivery design, product, marketing and supply chain expertise for customers at every stage of the product lifecycle.
BitPay was founded in 2011. It is the pioneer and the most experienced company in Bitcoin and blockchain payments.
The company has offices in North America, Europe, and South America. Moreover, it has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth.
BitPay has enabled businesses to send and receive cross border payments. Further, it has enabled consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the BitPay Prepaid Visa® Card.