- Spain’s largest telecommunications company now accepts bitcoins and cryptocurrencies as payment on its online store.
- Telefónica has partnered with Bit2Me, the country’s largest cryptocurrency exchange, to facilitate the conversion of real-time payments into euros.
- Telecom is also said to have invested in Bit2Me, and further details will be released in the coming weeks.
Telefónica, the largest telecommunications company in Spain, now accepts bitcoins and cryptocurrencies as payment.
The payment method was added to Telefónica’s online technology marketplace, Tu.com, in partnership with Bit2Me, Spain’s largest bitcoin and cryptocurrency. Customers can take advantage of the “revolutionary payment method” by simply clicking the Bit2Me Commerce payment method at checkout, according to the company’s announcement.
Moreover, Telefónica would have invested in Bit2Me. Details of the investment are expected to be released in the coming weeks.
Despite the fact that users who want 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 minimum and a purchase limit set between $200 and $500, respectively.
Once the payment process is complete, Bit2Me automatically converts the chosen payment method into euros in real time, removing any technological barriers for merchants such as Telefónica.
Spanish interest in bitcoin and cryptocurrencies continues to grow as last summer professional soccer team RCD Espanyol became the first La Liga team to accept the new payment method.
Additionally, Spanish airline Vueling is also expected to start accepting bitcoin in 2023. However, Vueling has chosen to partner with cryptocurrency payment service provider BitPay to facilitate its new payment method.
