1 year ago
Telefonica, 1 of the world’s largest telecom companies, has closed an concern successful the Spanish cryptocurrency speech Bit2me. The company, which has been precise progressive successful the metaverse space, is entering the crypto payments arena by moving a aviator to let its customers to marque payments via its online store Tu.com with an precocious bounds of $490.
Telefonica Invests successful Cryptocurrency Exchange Bit2me
Telefonica, the fourth-largest telecom institution successful Europe, has decided to tackle the cryptocurrency business. The institution announced an concern successful Bit2me, a Spain-based cryptocurrency exchange, that volition springiness it entree to the implementation of the exertion stack of the organization. The investment, whose details and numbers were not disclosed, is the archetypal determination of the institution successful the crypto area.
Unnoficial sources disclosed that this information could beryllium betwixt $20 and $30 million, giving Telefonica a precise important involvement successful Bit2me. This money injection would beryllium giving the speech enactment to support operating during this cryptocurrency marketplace downturn, successful which different exchanges person been forced to laic disconnected unit and instrumentality operating cost-cutting measures. Bit2me had conscionable secured funds for $2.5 cardinal from backstage investors anterior to Telefonica’s investment.
Cryptocurrency Pilot Program
One of the archetypal actions that Telefonica is taking aft this concern is the implementation of a aviator programme that volition let customers to wage with crypto astatine Telefonica’s online store, Tu.com. The institution volition judge cryptocurrency payments of up to $490 for tech hardware and phones arsenic a mode of measuring the involvement of the wide nationalist successful this outgo alternative.
The institution volition usage Bit2me’s tech arsenic a mode of receiving the cryptocurrency payments and exchanging them for euros, which volition beryllium kept by Telefonica; the institution volition not person cryptocurrency successful these transactions. However, this mightiness alteration successful the future. The integer portion manager of Telefonica, Chema Alonso, declared that the institution mightiness judge crypto successful the distant future.
The aviator volition beryllium restricted to these payments successful the online store, and nary plans for a aboriginal enlargement of this program were revealed. The institution had shown involvement successful the metaverse and NFT country before, making antithetic investments successful these fields. Recently, the institution established an alliance with Qualcomm successful bid to usage its extended world exertion to make metaverse experiences for its customers. Telefonica has besides enactment funds down Gamium, a Spanish metaverse company.
What bash you deliberation astir Telefonica’s concern successful Bit2me and its cryptocurrency payments pilot? Tell america successful the comments conception below.
Sergio Goschenko
Sergio is simply a cryptocurrency writer based successful Venezuela. He describes himself arsenic precocious to the game, entering the cryptosphere erstwhile the terms emergence happened during December 2017. Having a machine engineering background, surviving successful Venezuela, and being impacted by the cryptocurrency roar astatine a societal level, helium offers a antithetic constituent of presumption astir crypto occurrence and however it helps the unbanked and underserved.
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