Business In News
- Spanish telecommunication firm Telefonica has enabled crypto payments for its users.
- The feature has been activated in collaboration with local cryptocurrency exchange Bit2Me.
To embrace the growing crypto adoption in the world, Telefonica, known as the largest telecommunications company in Spain, will now be accepting payments in cryptocurrency for its products and services.
Telefonica Will Accept Crypto Payments
Per a recent CoinDesk report, Telefonica has recently activated a new feature on its tu.com website which will permit users to purchase its products and make payments in cryptocurrencies. The payment option has been unveiled in collaboration with Bit2Me, Spain’s leading cryptocurrency exchange.
In addition to this, the firm has also made several investments in Bit2Me to boost its presence in the crypto domain.
According to local news outlet El Economista, Telefonica has recently acquired Zaragoza-based extended reality specialist platform Imascono to expand its base further into Metaverse-related ventures. The said acquisition was announced during Telefonica’s Metaverse day event in Madrid. The firm had also previously acquired Qualcomm to “build the future of XR and Metaverse.”
“Telefónica and Qualcomm Technologies, Inc. announced a collaboration to strengthen their position as leaders in the future of XR and the Metaverse. Together they will work to develop and grow the XR ecosystem, leveraging the Snapdragon Spaces™ XR Developer Platform and Telefónica’s advanced fixed and mobile network infrastructure. Telefónica sees many possibilities in combining immersive devices with powerful networks and decentralised Web3 technologies. “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,” the statement reiterated.
Apart from making active crypto investments, Telefonica also operates its own independent NFT marketplace on Polygon, facilitating the sale of diverse NFTs for crypto enthusiasts.