We’ve seen big brand names such as Samsung jumping on board the crypto express, it’s no wonder that others follow suit and that’s where fortune 500 company Avnet comes in!
According to a press release on Tuesday, one of the world’s largest distributors of electronics, Avnet has announced that it will start accepting cryptocurrency by teaming up with BitPay. As per it’s website, it is “a global technology solutions provider with an extensive ecosystem delivering design, product, marketing and supply chain expertise for customers at every stage of the product life-cycle.”
Sunny Trinh, vice president of demand creation at the firm had this to say about the alliance.
“We’re working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them. Whether it’s Bitcoin or Bitcoin Cash, we can handle it,” said Sunny Trinh, Avnet.
The press release states that when a customer makes the decision to pay for a product or service via cryptos, the two firms will work together to first verify the tokens, process it and finally complete the transaction.
BitPay is dedicated to being at the forefront of innovative new ways to use decentralized technology and as they state on their official website, “Bitcoin’s future looks very bright, and we plan on remaining on the forefront of this technology, creating more tools and services for everyone to use in innovative new ways.”
According to Sonny Singh who is the chief commercial officer at BitPay, “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.”
He further added,
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.”
We love the idea of big names being so generous with their adoption of cryptocurrencies like Bitcoin as it helps pave the way for more and more firms and individuals wanting in on the action. It just goes to show that when fortune 500 companies start investing and seeing the potential in a particular technology, you know it’s the real deal.