Avnet Now Accepts Bitcoin Cash Payments

Avnet Now Accepts Bitcoin Cash Payments


According to a recent report, Avnet (Nasdaq: AVT) has revealed that it has started accepting virtual currency via Bitpay as a form of payment for its products and service. Avnet is a technology solutions company based in Phoenix, Arizona.

One of the Largest Technology Solutions in the World

Avnet which was established in 1921 and is one of the largest distributors of electronic components embedded solutions in the world has announced its intention to support the virtual currency, therefore, making financial transactions less strenuous for its customers. It will also enable customers to be focused on developing their products and not on how to pay for them.

The company which generates about $20 billion per year is ranked 128 on the Fortune 500 list and it is occupying the 414th position on the Fortune Global 500.

The Chief Commercial Officer at Bitpay, Sonny Singh said that:

“As one of the largest global technology solution providers on the Fortune 500 list, Avnet is truly an innovative company that listens to the needs of their customers, as demonstrated by their decision to accept bitcoin payments,”
“Not only is paying with bitcoin easier and faster than with credit cards and bank wires, but it is also less expensive and acceptance of it is growing. I predict Avnet will attract many new blockchain-focused customers from around the world that want to take advantage of paying with bitcoin,” he added.

Multi-million Dollar deals already concluded

Also, Bitpay recently announced that within its first month of accepting the digital currency as a form of payment, it has closed many multi-million dollar transactions. For instance, it worked alongside Bitcoin.com to create a new hardware wallet which allows the storage of virtual currency and make available the highest level of security for transactions.