The biggest telecom provider in Spain expands its Web3 presence

Telefónica, the biggest telecom provider in Spain is now taking bitcoin payments for devices and items purchased on its technology marketplace.

Bit2Me, a Spanish cryptocurrency exchange with a keen interest in e-commerce solutions, offers the crypto payment option. Telefónica’s relationship with Bit2Me to introduce cryptocurrency payments to their marketplace was first disclosed when Bit2Me tweeted:

Telefónica selects Bit2Me Commerce to accept crypto payments on tu.com. Telefonica allows for the first time crypto payment for buying devices, using Bit2Me Commerce, the payment gateway for businesses”

The cryptocurrency payment option is now available on the Tu.com platform. Customers may now purchase any goods or equipment using a variety of digital currencies supported by Bit2Me.

Telefónica has reportedly invested in the Spanish exchange startup Bit2Me. Information regarding the investment’s specifics is expected to be made public over the next several weeks.

In addition, Telefónica’s dominance in the Web3 universe is shown by its NFT marketplace, which allows users to research and buy any listed NFT of their choosing. This market is running on the polygon network and is connected with the Metamask bitcoin wallet. The majority of corporations in the sector are attempting to establish a presence in the Metaverse as the technology evolves. Telefónica also looks to be succeeding.

“Telefónica views the combination of immersive products, powerful networks, and decentralized Web3 technologies as having several applications.” 

Telecom has teamed up with Qualcomm, an American multinational firm that develops wireless technology-related chips, software, and services. The goal of this alliance is to speed up the development of the business’s metaverse initiative.

Also Read: ED Seizes Crypto Valued At Rs 47,64 Lakhs From An Illegal Gaming Application

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