Telefónica partnered with Spain’s largest bitcoin exchange Bit2me to enable the new feature on its online tech marketplace.
- Spain's largest telecommunications company is now accepting bitcoin and cryptocurrencies as payment on its ecommerce store.
- Telefónica partnered with Bit2Me, the largest cryptocurrency exchange in the country, to facilitate real time payment conversion into euros.
- The telecom has also reportedly invested in Bit2Me, and further details will be released in the upcoming weeks.
Telefónica, the largest telecommunications company in Spain, now accepts bitcoin and cryptocurrencies as payment.
The payment method was added to Telefónica’s online tech marketplace Tu.com in a partnership with Bit2Me, the largest bitcoin and cryptocurrency in Spain. Customers can take advantage of the “revolutionary payment method” by simply clicking the Bit2Me Commerce payment method at checkout, per the company’s announcement.
Additionally, Telefónica has reportedly invested in Bit2Me. Details of the investment are expected to be released in the coming weeks.
Despite the fact that users looking to take advantage of the new feature simply need to add the product to the cart and select Bit2Me Commerce before paying, there is a purchase minimum and limit set between $200 and $500, respectively.
Upon the completion of the checkout process, Bit2Me automatically converts the chosen form of payment into euros in realtime, removing any technological barriers for merchants such as Telefónica.
Spanish interest in bitcoin and cryptocurrencies continues to grow as this past summer, the RCD Espanyol professional soccer team became the first La Liga team to accept the new form of payment.
Additionally, Spanish airline Vueling is also set to begin accepting bitcoin in 2023. However, Vueling chose to partner with cryptocurrency payment service provider BitPay to facilitate its new form of payment.