Telefónica Considers Cryptocurrency Payment Options

Spanish telecommunications giant Telefónica is considering paying for some of its services with cryptocurrencies. For now, Telefónica's cryptocurrency projects related to payments are still in the planning stage.

Europa Press quoted the director of the company's digital division, Chema ALONSO, as saying the project is still under review and "has not yet been approved." But Alonso said that one of the options the firm is currently considering includes the option to pay through an exchange that immediately converts a mobile phone user's crypto payment into fiat euros.

If adopted, the feature would be compatible with a wide range of cryptocurrencies, Alonso said, and it’s not even ruled out that Telefónica will create its own cryptocurrency, provided a favorable regulatory framework is in place beforehand. In addition, a greater foundation and a greater level of security and stability mechanisms need to be laid in advance.

Image: Telefónica