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Fortune 500 Company Avnet Works With BitBay to Add Bitcoin, Bitcoin Cash Payment Option

Fortune 500 Company Avnet Works With BitBay to Add Bitcoin, Bitcoin Cash Payment Option

Avnet, Inc, one of the world’s largest distributors of electronic components and technology solutions providers, has announced a collaboration with crypto payment processor BitPay to accept cryptocurrency for the company’s services and products. The development was disclosed in an official press release published on March 19.

Avnet, Inc., which has been listed on Fortune 500 for 24 years, had an annual revenue in 2018 of more than $19 billion.

The press release writes that Avnet will accept payment with Bitcoin (BTC) or Bitcoin Cash (BCH), while BitPay will verify the purchased funds and complete the transaction. The company has also announced 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.

The ability for the company to accept crypto will give Avnet customers more options for completing their financial translations, according to the company. The press release states:

“By accepting bitcoin as a payment option, Avnet is continuing to break down the barriers customers face when getting their ideas to market by enabling easier access to its unique end-to-end ecosystem of design, product, marketing and supply chain expertise at every stage of the product lifecycle.”

As Cointelegraph reported on Jan. 30, BitPay has also partnered with the Wikimedia Foundation, the non-profit and charitable organization that operates Wikipedia, to provide the possibility to accept donations in cryptocurrency.

And, earlier today, leading Swiss online retailer Digitec Galaxus announced that it would accept 10 different cryptocurrencies as payment for its products.

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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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