Bitpay
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Case Study: Avnet accepts Bitcoin payments for blockchain customers with BitPay
A Bitpay Case Study
Avnet accepts millions in Bitcoin payments with Bitpay
Avnet, a Fortune 500 company, faced a challenge when a blockchain industry client wanted to pay for hardware wallets with cryptocurrency. Avnet's finance team was concerned about the price volatility of Bitcoin and did not want to hold it on their balance sheet. They partnered with BitPay to find a solution.
BitPay enabled Avnet to accept multiple large cryptocurrency payments. The solution allowed Avnet to receive payments without holding any cryptocurrency, as BitPay settled the funds in US dollars the next business day. This process mitigated the risk of volatility for Avnet and successfully facilitated the multi-million dollar deal.
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