Spain’s Largest Telecom Now Accepts Payment in Crypto

Spain’s largest telecommunications firm, Telefónica, announced that it now accepts Bitcoin and other cryptocurrencies for purchases on its technology marketplace.

As cryptocurrency adoption continues to grow at a slow, but steady pace, organizations from across the globe have begun expanding payment options to include cryptocurrencies. The latest organisation to have embraced digital assets is Telefónica, the largest telecommunications company in Spain. According to reports, the firm activated crypto purchases on Tu.com after adding a payment feature that is provided by Spain’s largest cryptocurrency exchange, Bit2Me. The company has also reportedly invested in the exchange. The telecom also announced that it had entered into a collaboration with Qualcomm to explore joint commercial metaverse opportunities and the launch of XR/metaverse services and products. According to a statement confirming this collaboration:

This agreement opens the opportunity to deliver new experiences to customers merging the digital and analogue worlds, re-imagining commerce, entertainment, and communication in the Metaverse.

This is not the first time the company has embraced digital asset technology. Earlier this year, the firm partnered with the Polygon blockchain to develop Web 3.0 solutions and enable companies to issue non-fungible tokens (NFTs) with more ease by creating their very own NFT marketplace. The NFT marketplace has initially been integrated with MetaMask. To further its mark in the Web 3.0 space, Telefónica also closed deals with Qualcomm to develop projects in the metaverse. In its deal with Qualcomm, the firm intends to explore opportunities in the product and service segment in the metaverse.

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