Spain's Largest Telecom Company Telefónica Now Accepts Crypto Payments

Telefónica, Spain’s largest telecom company, is now accepting cryptocurrency payments for the purchasing of devices or products on its technology marketplace.

The crypto payment feature is provided by Bit2Me, a Spanish cryptocurrency exchange with vested interest in e-commerce solutions. Telefónica's partnership with Bit2Me to bring crypto payments to their marketplace was initially revealed when Bit2Me took to their Twitter and said:

“Telefónica chooses Bit2Me Commerce to accept crypto payments on tu.com🤝 @Telefonica enables for the 1st time crypto payment for purchasing devices, and does it by the hand of Bit2Me Commerce, the payment gateway for companies🚀”

The crypto payment method is now live on the Tu.com platform. Customers can now buy any product or device using a wide range of digital currencies hosted on Bit2Me.

Aside from the partnership, it was also reported that Telefónica has also invested in the Spanish exchange company, Bit2Me. Further details about the investment are on track to be released in the coming weeks.

In addition, Telefónica's grip in the Web3 world is being showcased with its NFT marketplace which users can explore and acquire any listed NFT of their choice. This marketplace is live on the polygon network, and it is integrated with the cryptocurrency wallet, Metamask. Additionally, as most firms in the industry are pitching their way into the Metaverse and trying to establish their ground with the developing technology. Telefónica also appears not to be missing out. 

The Telecom company recently collaborated with Qualcomm, an American multinational corporation that creates semiconductors, software, and services related to wireless technology. This partnership is billed to help advance the development of the company's metaverse drive.

“Telefónica sees many possibilities in combining immersive devices with powerful networks and decentralized Web3 technologies.” Said Telefónica in the announcement of the collaboration with Qualcomm, “This agreement opens the opportunity to deliver new experiences to customers merging the digital and analog worlds, re-imagining commerce, entertainment, and communication in the Metaverse.”