Crypto Daily: Switzerland’s Biggest Online Retailer Starts Accepting Bitcoin; Fortune 500 Tech Firm Avnet Now Accepts Crypto Payments via BitPay.
Switzerland’s Biggest Online Retailer Starts Accepting Bitcoin
Swiss customers of Digitec and Galaxus can now pay with bitcoin when shopping online. The service is provided by Coinify (with 1.5% fees.)
In addition to BTC, other altcoins that will be accepted include Bitcoin Cash (BCH), Bitcoin Cash SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), TRON (TRX), OmiseGo (OMG), and NEO (NEO).
“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development,” says Digitec co-founder Oliver Herren and Chief Innovation Officer. “We wanted to do that for a long time, but the effort was too long for a long time.”
When asked why his company is willing to accept these alternative means of payments, Herren explained:
Because you have some and you want to use them. Or because you cannot turn them into real money because your bank does not accept it. Or maybe just because your can and like to try new things.
This crypto payment is currently only available in Switzerland but looking to expand to Germany.
Bitcoin (BTC) Going Mainstream, Accepted By a $4.7 Billion Company Avnet
Based in Phoenix, Arizona and drawing $17.4 billion in revenue, Avnet — one of the largest electronic component distributors in the US and one of the most capitalized Fortune 500 Company has partnered with BitPay, a Bitcoin and Bitcoin Cash payment processor. Because of this tactical — and even profitable shift, Avnet is the third major corporation in the US to accept crypto payments after Microsoft and Dell.
“When a customer elects to purchase with Bitcoin (BTC) or Bitcoin Cash (BCH), Avnet will work with BitPay to verify the funds, process the order and complete the transaction. Avnet and BitPay will also have the ability to manage and process cryptocurrency requests outside the US on a country-by-country basis.”
Silvergate Bank Onboarded 59 New Crypto Customers in Q4 2018
[cointelegraph] Crypto-supportive Silvergate Bank has signed on a slew of new cryptocurrency customers in the fourth quarter on 2018, according to a recent filing with the United States Securities and Exchange Commission (SEC).
The filing reveals that as of Dec. 31, 2018, Silvergate had 542 digital currency-related clients including cryptocurrency exchanges and miners, custodians and global investors, among others. This marks an increase of 59 crypto-related customers since a previous filing in September 2018.
By Dec. 31, 232 cryptocurrency customers were purportedly in various stages of the bank’s customer onboarding process, including regulatory compliance.
The bank further says that it believes that acceptance of digital currency by traditional financial institutions will continue to grow, highlighting the following data:
“Currently, there are over 300 institutional investment funds with aggregate estimated assets under management of between approximately $7.5 billion to $10 billion. Over $8.3 billion has been invested in digital currency-related projects, excluding initial coin offering funding, since December 31, 2013. Approximately $1.3 billion in venture funding was raised in the digital currency and blockchain market in the 12 months ended June 30, 2018, which is the most recent date such information is available.”
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