Avnet, one of the world's largest suppliers of electronic components on the Fortune 500 list, began accepting cryptocurrency payments through the BitPay processing service.
The company ranks 128 on the Fortune 500 list of the largest US corporations. Avnet will pay Bitcoin and Bitcoin Cash for its products and services, and BitPay will deal with the confirmation and processing of transactions.
According to Avnet, cryptocurrency payments can reduce the time, cost and complexity associated with bringing products to the market. The company also reported that during the first month of using the service, several multimillion crypto transactions were received.
“To pay using Bitcoin is not only easier and faster than using credit cards and bank transfers, but also less expensive. The spread of cryptocurrency continues to grow, ”said BitPay Commercial Director Sonny Singh.
According to the press release, Avnet also collaborates with the Bitcoin.com portal on the issue of quoting: “creating a new hardware wallet, suitable for storing cryptocurrencies and providing the highest level of transaction security.”