The largest distributors of electronic components and technology solutions, Avnet partnered with digital currency payment platform BitPay to add Cryptocurrencies on their company’s products and services. For 24 years, Avnet Inc has been listed in Fortune 500, last year company’s annual revenue was more than USD19 billion. According to the company’s statement, Avnet will accept payment with Bitcoin (BTC) or Bitcoin Cash (BCH), while BitPay will verify the purchased funds and complete the transaction.
As part of the announced, the company said that it had closed several multi-million-dollar Cryptocurrency transactions within the first month of accepting Bitcoin, specifying that this also includes their work with Bitcoin.com on a new hardware wallet. With this partnership, customers outside the U.S. will be capable of requesting that payments be made in digital currency, while these requests will be processed on a country-wise. Vice President of demand creation at Avnet, Sunny Trinh stated that 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. In the effort to accept Cryptocurrency will provide Avnet customers with more options to complete their financial transactions. Keeping this mind to accept the digital currency as a form of payment, Avnet highlighted that several multi-million-dollar cryptocurrency transactions have already been processed.
Based in Phoenix, Arizona, Avnet is also working with Bitcoin.com to build a new hardware wallet to offer its customers with more security. In late January, it was reported that BitPay has also collaborated with the Wikimedia Foundation to offer the possibility to accept donations in Cryptocurrency. Wikimedia Foundation is a non-profit and charitable organization that runs Wikipedia.