offers the Crompraventa service with a new application

Telefonica is fully immersed in the buying and selling of cryptocurrencies and started offering this service through a new application, YOUR Wallet. The digital asset wallet is available in Spain and includes a card for paying with Bitcoin or Ether in physical establishments and stores. Bit2Me will manage the application after being selected by the telecommunications company for the project.

The purpose of the app is to allow users to easily work with crypto assets, both for investing and making payments, Bit2Me explained in a statement. Service It is available to anyone with a mobile phone number in Spain.

not only for the clients of the operator led by Alvarez-Pallet. In addition, this opens up the opportunity for the application to reach 392 million TV customers in 12 countries.

The app is called TU Wallet because TU is Telefónica’s innovation-focused arm, with products based on blockchain or related to artificial intelligence (AI). For example, it has a collection of non-fungible tokens (NFTs). These services are available to clients and individuals.

In the case of a “crypto” portfolio, It is the first major telecommunications company operating in Spain to offer a token transaction service. The European regulation of crypto assets (Markets for Crypto Assets or MiCA) just came into force in its second phase in December, allowing financial and non-financial institutions to offer “crypto” products.

Telefónica is one of the investors in Bit2Me, along with Unicaja, Cecabank, Investcorp and Inveready, among others. This explains why the telecommunications company decided to rely on a “cryptocurrency” firm registered with the Bank of Spain to launch its new service.

“This expands the daily use of cryptocurrencies, bringing them closer to users’ daily lives,” the statement explains. In addition to working from a mobile phone, allows you to pay with a MasterCard card, Available in over 100 physical locations and e-commerce.

“TU Wallet is a prime example of how our technology can drive mass adoption of crypto assets in traditional sectors such as telecommunications,” emphasizes Gabriel Ayala, Director of Banking Solutions at Bit2Me. Previously, the company under the leadership of Leif Ferreira implemented a similar project with the neobank Fazil, which released its own application for working with bitcoins, ether and hundreds of cryptocurrencies.