Spanish telecom giant Telefonica enables crypto payments via Bit2Me: CoinDesk

Quick Take

  • The crypto payment feature powered by Bit2Me will be added to Telefonica’s marketplace.

  • Telefonica also recently signed a deal with Qualcomm Technologies to collaborate on an augmented reality platform.

Telefonica, the $19 billion Spanish telecom giant, is allowing the use of cryptocurrency for purchases on its marketplace.

The cryptocurrency payment integration for comes as the result from a partnership between Telefonica and Spanish cryptocurrency exchange Bit2Me, CoinDesk reported. Telefonica also invested an undisclosed amount in the exchange.

This isn't Telefonica's first venture into the blockchain space. The company opened an NFT marketplace and earlier this week announced a deal with Qualcomm Technologies to develop an augmented reality driven platform, SnapDragon Spaces. In 2019, Telefonica held a trial for a blockchain-backed marketplace for users to sell private data.

Bit2Me is Spain’s largest cryptocurrency exchange with an average daily volume of 6,453 BTC, or nearly $126 million at current pricing, according to data from CoinMarketCap.

Telefonica and Bit2Me did not immediately respond to The Block’s request for comment.

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