Global technology distributor Avnet announced on Tuesday it has BitPay to now accept cryptocurrency on its platform. Avnet reported that when a customer elects to make a purchase with 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. BitPay processes more than $1 billion annually from thousands of merchants and B2B customers globally.”
While sharing more details about the collaboration, Sonny Singh, Chief Commercial Officer of BitPay, stated:
“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. Not only is paying with bitcoin easier and faster than with credit cards and bank wires, it is less expensive and acceptance of it is growing. I predict Avnet will attract many new blockchain-focused customers from around the world that want to take advantage of paying with bitcoin.”
Avnet went on to add that by accepting bitcoin as a payment option, it is continuing to break down the barriers customers face when getting their ideas to market by enabling easier access to its unique end-to-end ecosystem of design, product, marketing, and supply chain expertise at every stage of the product lifecycle.