Share this article
Fortune 500 Tech Firm Avnet Now Accepts Crypto Payments via BitPay
Avnet, one of the world's largest distributors of electronic components and services, is now accepting crypto payments through BitPay.
Updated Sep 13, 2021, 8:59 a.m. Published Mar 19, 2019, 3:00 p.m.
Avnet, one of the world's largest distributors of electronic components and services, is now accepting cryptocurrency payments through a partnership with blockchain payments processor BitPay.
Announcing the news on Tuesday, the Fortune 500 firm said its customers can now pay in bitcoin and for products and services, with BitPay then verifying and processing those payments.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“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 Avnet vice president of demand creation Sunny Trinh.
Cryptocurrency payments can reduce the "time, cost and complexities of bringing products to market,” Avnet said, adding that it has already closed “several multi-million-dollar” cryptocurrency transactions within the first month of accepting cryptocurrency payments.
The news makes Avnet the third largest technology company in the U.S. (behind only Microsoft and Dell) to accept bitcoin payments, a spokesperson for Avnet told CoinDesk.
BitPay’s chief commercial officer, Sonny Singh, said:
“Not only is paying with bitcoin easier and faster than with credit cards and bank wires, it is less expensive and acceptance of it is growing.”
Avnet is also working with Bitcoin.com to develop a new hardware wallet to enable cryptocurrency storage and provide the “highest level of security” for transactions, according to the announcement.
In January, BitPay said it processed over $1 billion-worth of cryptocurrency transactions in 2018 for the second year in a row.
Featured image courtesy of Avnet
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
How Much Longer Until We Consider the Bitcoin Power Law Model Invalid?
As the gap between spot bitcoin price and the power law widens, investors are left questioning whether mean reversion is coming or if another cornerstone model is approaching its end.
What to know:
- Bitcoin has largely tracked its long standing power law trend this cycle, though it now trades about 32% below the model.
- Earlier models like stock to flow have already failed, with its current implied valuation near $1.3 million per bitcoin
Top Stories
