- Spain’s largest telecommunications company is now accepting bitcoins and cryptocurrencies as payment on its e-commerce store.
- Telefónica partnered with Bit2Me, the country’s largest cryptocurrency exchange, to facilitate the conversion of real-time payments into euros.
- Telecoms have also reportedly invested in Bit2Me, with more details to come in the coming weeks.
Telefónica, Spain’s largest telecommunications company, now accepts bitcoins and cryptocurrencies as payment.
The payment method was added to Telefónica’s Tu.com online technology marketplace in partnership with Bit2Me, Spain’s largest bitcoin and cryptocurrency exchange. Customers can take advantage of the “revolutionary payment method” by simply clicking on the Bit2Me Commerce payment method at checkout, according to the company’s announcement.
In addition, Telefónica has invested in Bit2Me. Details of the investment are expected to be released in the coming weeks.
While users who want to take advantage of the new feature just need to add the product to their cart and select Bit2Me Commerce before checkout, there is a minimum purchase and limit set at $200 and $500, respectively.
Once the payment process is complete, Bit2Me automatically converts the chosen form of payment 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 form of payment.
In addition, Spanish airline Vueling will also start accepting bitcoins in 2023. However, Vueling chose to partner with cryptocurrency payment service provider BitPay to facilitate its new form of payment.
