Avnet, a technology company with a stake in cryptocurrencies such as Bitcoin (BTC), has announced that it will allow customers to pay for its offerings in the first digital currency alongside Bitcoin Cash (BCH). These transactions will be made through payment processor BitPay, the “largest Bitcoin payment processor in the world.”
Vice President of the Fortune 500 company, Sunny Trinh, spoke on the change to Bitcoin Magazine:
“Our customers have been asking to pay in cryptocurrency, and we listened,. Bitcoin gives our customers added flexibility, and we are excited to offer our customers the option to pay with bitcoin or bitcoin cash”.
“We recognized that cryptocurrency would help our customers overcome the competition and challenges they face every day in taking their ideas from design to production,” he continued. As two of the top ten cryptocurrencies, this claim will probably prove to be true.
Cryptocurrencies and blockchain technology work to streamline payments on a global scale. With multiple big-time companies such as Microsoft and Dell accepting Bitcoin, it’s only a matter of time before smaller, yet still prevalent, businesses follow suit. If we want any sort of mainstream adoption, this is how it has to start.
Chief Commercial Officer at BitPay, Sonny Singh, also commented on the situation:
“I predict Avnet will attract many new blockchain-focused customers from around the world that want to take advantage of paying with bitcoin”.
Testing The Tech
Trinh also told Bitcoin Magazine that Avent has already “closed several multi-million-dollar transactions” using these digital assets. There is obviously some good experience here.
In other spaces around the world, Swiss-based Digitec-Galaxus has recently started to accept crypto payments as well. Oliver Herren, CEO of Digitec, feels similarly to Avnet regarding crypto:
“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time. Or because you cannot turn them into real money [since] your bank does not accept it. Or maybe just because you … like to try new things.”
Hopefully, this year will see more and more name-brand companies accepting this technology. While blockchain and crypto still have a ways to go, the more people who get on board, the more likely we’ll see these digital assets succeed in the long run.