Avnet is all set to become one of the few Fortune 500 tech firms to start accepting cryptos.
One of the largest distributors of electronic components in the world, Avnet made an official announcement on 19th March 2019, affirming that all its clients will be able to pay for its products and services in Bitcoin Cash (BCH) and Bitcoin (BTC) using BitPay.
Sunny Trinh, the vice president of demand creation in the company, has affirmed during the announcement that the focus of the company is to let people buy their products, not how they do it. Because of this, the company is ready to offer all available payment options for the users, so they can choose what suits them the most.
According to Avnet, crypto payments can be very effective as a way to reduce the time and the cost of selling the products. The company has also affirmed that crypto payments are being very well accepted in the industry and that they have received several million dollars worth of cryptos in the first month since they started to accept it.
Avnet is currently the third of the largest tech companies in the United States to accept crypto payments. Microsoft and Dell took the headstart from it, but Avnet can still be considered to be in the vanguard for now.
Sonny Singh, the chief commercial officer of BitPay, has affirmed that paying with Bitcoin is always easier and faster than doing it with other solutions than credit cards and especially bank wires (which are notoriously slow). They are a cheaper alternative and the company expects that others will start to use their services in the near future.
Avnet Is Also Working On A Crypto Wallet
Not only Avnet has entered the blockchain world by starting to accept Bitcoin payments, but the company is also ready to work in the construction of a new cryptocurrency wallet. The wallet will be created in a partnership with Bitcoin.com. The goal is to create a wallet with the highest possible level of security.
Which sector do you see adopting crypto next? Let us know in the comments below.