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Avnet To Accept Bitcoin Cash Payments

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Electronic components and services provider Avnet (Nasdaq: AVT) has announced that it is now working with Bitpay to accept cryptocurrency payments for its products and services.

"We're working with BitPay to facilitate secure blockchain payments for all types of customers so they can focus on developing their products, not how to pay for them," said Sunny Trinh, vice president of demand creation, Avnet.

He said the leading global technology solutions company will accept payments in Bitcoin (BTC) or Bitcoin Cash (BCH).

When a customer elects to make a purchase with Bitcoin or Bitcoin Cash, 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 U.S. on a country-by-country basis.

Bitcoin transactions are on the rise, with at least 250,000 on-ledger bitcoin transactions taking place per day in 2019, according to Blockchain.com.

Avnet says it has already closed several multi-million-dollar cryptocurrency transactions within the first month of accepting bitcoin.

One of the largest global technology solution providers on the Fortune 500 list, Avnet is working with Bitcoin.com to develop a new hardware wallet that will further enable cryptocurrency storage and provide the highest level of security for transactions.

Avnet was named one of the world's most ethical companies for sixth straight year last month.

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