New Acceptance Point: Online Merchant Avnet accepts Bitcoin and Bitcoin Cash

With Avnet, another major online retailer is taking an important step toward mass adaptation of cryptocurrencies. Through a partnership with BitPay, Avnet customers will be able to pay for the company's products and services with either Bitcoin or Bitcoin Cash.

The Fortune 500 company Avnet recently accepted cryptocurrencies as a means of payment. The US-based electronics retailer based in Phoenix is ​​working with the crypto payment service provider BitPay. Customers now have the option of paying with Bitcoin (BTC) or Bitcoin Cash (BCH). Sonny Singh, CCO of BitPay stated:

"Paying with Bitcoin is not only easier and faster than with credit cards and bank transfers, but also more cost effective [...]. I expect Avnet will attract many new blockchain affine customers from around the world who want to benefit from Bitcoin."

For Avnet's Sunny Trinh, the new payment option primarily benefits (B2B) customers:

"We partner with BitPay to provide secure blockchain payments to all types of customers so they can focus on developing their products, not how to pay for them. Whether it is BTC or BCH, we can handle it."

Avnet speaks on its website of multi-million dollar transactions as early as the first month after BTC's adoption. This includes working with Bitcoin.com to develop a new hardware wallet. She should offer the highest security for transactions. With this, Avnet goes a step further than the competition, where crypto-acceptance is mostly exhausted in a co-operation with payment processors like BitPay or Coinify.

Avnet has shown interest in blockchain applications in the past. In 2016, the company acquired Hackster.io - a developer community for learning, programming and hardware manufacturing. BTC-ECHO reported Hackster in relation to a Smart City competition organized by IOTA.

Meanwhile in Switzerland ...

There are also news from the adaptation front from Switzerland. Digitec Galaxus, the 70 percent Migros online retailer, has recently announced the acceptance of 10 cryptocurrencies.