The fourth-largest telecom corporation in Europe, Telefonica, has chosen to enter the Crypto market. The business disclosed an investment in Bit2me, a crypto exchange with headquarters in Spain, which will provide it access to the organization’s technology stack. The investment marks the business’s first step into the crypto world; its specifics and financial information were not made public.
Tu.com, Telefónica’s online tech marketplace, now accepts the payment method thanks to a collaboration with Bit2Me, Spain’s largest bitcoin and crypto exchange. According to the company’s release, customers can benefit from the “new payment technique” by simply selecting the Bit2Me Commerce payment option after checkout.
Additionally, Bit2Me is said to have received funding from Telefónica. In the upcoming weeks, information on the investment is anticipated to be made public.
This is not Telefonica’s first foray into the world of blockchain technology. Earlier this week, the company launched an NFT marketplace and disclosed a partnership with Qualcomm Technologies to create SnapDragon Spaces, an augmented reality-driven platform. In 2019, Telefonica conducted a test of a marketplace powered by blockchain where customers could sell their personal data.
Telefónica executive Daniel Hernández claims that his company worked with Qualcomm to develop the infrastructure for the future. This is done to stay abreast of changes so they can offer their clients cutting-edge services.
