Telefónica telecom firm confirmed that it has enabled payments with Ether, Bitcoin, and other cryptos for its online marketplace Tu.
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With crypto and NFT adoption moving forward in different parts of the world, Spain seems to continue encountering massive developments in its local blockchain industry as its biggest telecom services provider plunges deeper into Web3 technologies.
The multinational telecom company that operates from Madrid, Spain, Telefónica, has enabled payments with different cryptos like Ether (ETH), Bitcoin (BTC), USD Coin (USDC), Litecoin (LTC), and many others on its online technology marketplace known as Tu.
The company integrated a cryptocurrency payment feature offered by the Spanish crypto exchange Bit2Me to receive crypto and digital assets in exchange for their tech products. This exchange teased the integration during its Telefónica Metaverse Day event.
¿Qué creéis que estamos preparando con @Telefonica? pic.twitter.com/cYijpO1Zyj
— Bit2Me (@bit2me) September 29, 2022
Apart from integrating cryptocurrency in its online store, the telecom company has also recently announced its collaboration and partnership with the software firm Qualcomm Technologies to develop and advance its extended reality (XR) ecosystem and bring the Metaverse to life.
Based on a statement by one executive at Telefónica, Daniel Hernández, the company partnered with Qualcomm to prepare for the future and develop its infrastructure. This move was meant to help it stay on top of developments so that it can provide innovative services to its users and clients.
Apart from its relentless efforts in incorporating crypto and building the Metaverse, the firm has also dabbled in nonfungible tokens (NFTs). The company confirmed that it has built and released its NFT marketplace integrated with the crypto wallet MetaMask.
Notably, it is not Telefónica’s first encounter with NFT and blockchain technologies. As previously stated by reporters, the company announced an initiative that supported artificial intelligence (AI) and blockchain startups in 2019. That move aimed to boost traditional ecosystems with emerging and trending technologies.
In 2020, Telefónica partnered with Deutsche Telekom together with British provider Vodafone to test a blockchain solution meant to settle roaming discount agreements. This blockchain-based solution was expected to minimize the costs for the telcos and develop more efficient settlement workflows for inter-company deals.
