Fortune 500 Tech Firm Avnet Now Accepts Crypto Payments by using BitPay

Avnet, a person of the world’s premier distributors of digital factors and providers, is now accepting cryptocurrency payments by way of a partnership with blockchain payments processor BitPay.

Announcing the information on Tuesday, the Fortune 500 business claimed its shoppers can now fork out in bitcoin (BTC) and bitcoin income (BCH) for products and solutions and providers, with BitPay then verifying and processing individuals payments.

“We’re performing with BitPay to aid secure blockchain payments for all styles of shoppers so they can concentrate on building their products and solutions, not how to fork out for them,” claimed Avnet vice president of demand from customers creation Sunny Trinh.

Cryptocurrency payments can reduce the “time, price tag and complexities of bringing products and solutions to market,” Avnet claimed, incorporating that it has now shut “several multi-million-dollar” cryptocurrency transactions within the 1st month of accepting cryptocurrency payments.

The information makes Avnet the third premier technological innovation business in the U.S. (powering only Microsoft and Dell) to acknowledge bitcoin payments, a spokesperson for Avnet told CoinDesk.

BitPay’s main industrial officer, Sonny Singh, claimed:

“Not only is paying with bitcoin simpler and faster than with credit score playing cards and bank wires, it is less pricey and acceptance of it is growing.”

Avnet is also performing with to build a new hardware wallet to allow cryptocurrency storage and supply the “highest amount of security” for transactions, according to the announcement.

In January, BitPay claimed it processed around $1 billion-worthy of of cryptocurrency transactions in 2018 for the second yr in a row.

Showcased image courtesy of Avnet