Spain’s largest mobile operator now accepts cryptocurrencies

According to official information provided by representatives of the largest telecommunications company in Spain, Telefonica, thanks to an agreement between the Bit2Me exchange and the tech giant Telefonica, customers will be able to pay for communication services in cryptocurrency.

As it became known, as part of the new cooperation, Telefonica will accept payments for its services in digital assets through the Tu.com platform. «This agreement will allow us to provide customers with new opportunities by combining the digital and analog worlds and redefining commerce, entertainment and communication,» Telefonica representatives said.

The cooperation with Bit2Me is the third major blockchain deal for Telefonica. Earlier, the commercial giant entered into an agreement with Polygon to facilitate the issuance of NFTs and the development of joint Web3 solutions. Also this week, Telefonica started cooperation with the Qualcomm platform.

It is worth noting that providing users with the ability to pay in cryptocurrencies can significantly expand Telefonica’s customer base, as 7% of Spaniards own digital assets. According to a survey conducted by the financial market regulator CNMV, Spaniards are willing to invest in cryptocurrencies despite warnings from the government. 9 out of 10 respondents said that they periodically see messages from the authorities that indicate the risks associated with cryptocurrency transactions. However, the Spaniards admitted that they are still not sufficiently aware of the threats posed by the crypto sphere to market consumers.