Spain’s Largest Telecom Company Telefónica Now Accepts Crypto Payments

Telefónica, Spain’s largest telecom company, is now accepting cryptocurrency payments for the purchasing of devices or products on its technology marketplace.


The crypto payment feature is provided by Bit2Me, a Spanish cryptocurrency exchange with vested interest in e-commerce solutions. Telefónica’s partnership with Bit2Me to bring crypto payments to their marketplace was initially revealed when Bit2Me took to their Twitter and said:

“Telefónica chooses Bit2Me Commerce to accept crypto payments on🤝 @Telefonica enables for the 1st time crypto payment for purchasing devices, and does it by the hand of Bit2Me Commerce, the payment gateway for companies🚀”

The crypto payment method is now live on the platform. Customers can now buy any product or device using a wide range of digital currencies hosted on Bit2Me.


Aside from the partnership, it was also reported that Telefónica has also invested in the Spanish exchange company, Bit2Me. Further details about the investment are on track to be released in the coming weeks.


In addition, Telefónica’s grip in the Web3 world is being showcased with its NFT marketplace which users can explore and acquire any listed NFT of their choice. This marketplace is live on the polygon network, and it is integrated with the cryptocurrency wallet, MetamaskAdditionally, as most firms in the industry are pitching their way into the Metaverse and trying to establish their ground with the developing technology. Telefónica also appears not to be missing out. 


The Telecom company recently collaborated with Qualcomm, an American multinational corporation that creates semiconductors, software, and services related to wireless technology. This partnership is billed to help advance the development of the company’s metaverse drive.


“Telefónica sees many possibilities in combining immersive devices with powerful networks and decentralized Web3 technologies.” Said Telefónica in the announcement of the collaboration with Qualcomm, “This agreement opens the opportunity to deliver new experiences to customers merging the digital and analog worlds, re-imagining commerce, entertainment, and communication in the Metaverse.” 

Image source: Shutterstock


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Telefonica, Alastria Tap Hyperledger Fabric for Enterprise Blockchain Network

Telefonica and Alastria have inked a strategic partnership deal that will enable them to develop an enterprise distributed ledger technology (DLT) network powered by Hyperledger Fabric. The proposed blockchain platform will come in two versions, according to a LedgerInsights report on February 8, 2021.

Telefonica Adopts Hyperledger

Telefonica, a Madrid-headquartered multinational telecommunications company that has been existing since 1924, is joining forces with Alastria, a non-profit association that claims to be focused on promoting the digital economy via distributed ledger technology (DLT) applications, to launch an Hyperledger Fabric-based blockchain solution.

Per sources close to the matter, the Hyperledger-based blockchain solution from the stables of Alastria and Telefonica will come in two versions: one will function as a costless and open-source distributed ledger that will enable Alastria members to develop DLT proofs of concept as well as simple blockchain applications.

The second version, on the other hand, will be designed as a permissioned distributed ledger for the development of robust applications that will always be available, scalable and highly performant.

Adding Value to the Blockchain Ecosystem

Explaining the idea behind the creation of the blockchain platform, Jose Luis Nunez, head of the Blockchain unit at Telefonica Tech revealed that the move is in a bid to give members of its ecosystem more options to explore the rapidly expanding world of DLT.

“What we seek in collaboration with Alastria is to add more value to the ecosystem by offering them options to explore and develop their solutions in a collaborative environment and to later industrialize them with guarantees.”

Notably, Alastria, which is a member of Linux Foundation’s Hyperledger Alliance, previously built blockchain two blockchain platforms based on Quorum and Hyperledger Besu. And now, the consortium has made it clear that its latest blockchain platforms will be interoperable with the existing ones, as well as the blockchain network being developed by the European Blockchain Service Infrastructure (EBSI) and its proprietary Alastria ID solution.

As reported by BTCManager in February 2019, Telefonica, whose blockchain offering includes hosting services and TrustOS, joined forces with Microsoft in a bid to expand the latter’s Azure platform.

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