Avnet (Nasdaq: AVT), is the world’s biggest wholesaler of electronic parts. The company is headquartered in Phoenix, Arizona. Avnet has announced that it is now working with Bitpay to accept cryptocurrency payments including bitcoin cash (BCH). World’s Largest Electronic Distributor AVNET accepts Bitcoin Cash Payments.
Avnet, established in 1921, ranks at number 128 on the list of the Fortune 500. Also, number 414 on the Fortune Global 500 companies. It makes revenue of approximately $20 billion every year. It is adding support for cryptocurrency payments, to furnish its clients with increasingly advantageous approaches for their financial exchanges so the company itself can concentrate on building their products, as opposed to how to pay for them.
“As one of the largest global technology solution providers on the Fortune 500 list, Avnet is truly an innovative company. Itt 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, it is 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.”
– said Sonny Singh, Bitpay’s chief commercial officer.
Avnet reported that within the first month of them starting to accept cryptocurrency payments, they have already completed several multi-million dollar digital currency transactions.
The manner in which the cryptocurrency payment service works is that when an Avnet client chooses to buy with bitcoin core (BTC) or bitcoin money (BCH). However, the organization will work with Bitpay to confirm the funds, process the request and complete the purchase. The two American organizations will be able to also oversee and process cryptocurrency transactions outside the U.S.