‘A Revolutionary Payment Method’: Spanish Telefónica Now Accepts Crypto
The largest telecommunications company in Spain is now accepting payments in cryptocurrencies in its online store. Telefónica says that it has a partnership with the country’s largest local crypto exchange Bit2Me for transactions, enabling it to offer a “revolutionary payment method.”
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The new payment method will be offered through its marketplace Tu.com, where users can buy a range of products like phones and Xiaomi TV sets.
In order to conduct a transaction using the payment method, customers are required to meet a minimum purchase price between $200 and $500.
The company will offer support for Bitcoin, Litecoin, Bitcoin cash, Ethereum, Ripple, Tether USD TRC20 token, USD coin, and TRON.
Additionally, to ease adoption and prevent users from experiencing any technical problems, the company automatically converts the crypto into euros for merchants.
Cryptocurrencies have been growing in popularity in Spain, with soccer team RCD Espanyol now also accepting cryptocurrency payments, and Spanish airline Vueling scheduling Bitcoin acceptance next year through a partnership with BitPay.
According to research company TripleA, around 1.1 million people in Spain have adopted crypto.
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