Cryptocurrencies have a new (and unexpected) ally: El Corte Inglés

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El Corte Inglés is a traditional brand, but it is willing to modernize. They have recently decided to launch the creating your own cryptocurrency exchange. An unexpected movement that coincides with the attempts at regulation by the different governments.

For this new platform, El Corte Inglés has teamed up with Deloitte, one of the four big consulting firms, as explained The confidential. The goal is to offer a new type of investment to the 11 million customers registered with their credit card.

Cryptocurrencies are beginning to be considered another type of investment

The cryptocurrency platform It will be called Bitcor, registered name in 2021 at the European Union Intellectual Property Office (Euipo). During this process, the company stated that this new brand was to provide “financial services, financial transactions related to currency exchange and currency trading.”

Bitcoin and Ethereum, among others, are expected to be among the cryptocurrencies that can be managed on Bitcor. Although, the details have not yet transpired. In addition to Deloitte, El Corte Inglés would have been associated with the company MinosGlobalspecialized in blockchain.

The Bank of Spain has already recognized its first cryptocurrency platform.  It's just the beginning

The Bank of Spain has recently begun to officially recognize cryptocurrency platforms, starting with the Spanish company Bit2Me. El Corte Inglés’ bet would fit into the attempt to offer new avenues of investment to its clients. Today, the chain offers small savers various Mutua Madrileña investment funds and pension plans.

The National Securities Market Commission (CNMV) recalls that investing in cryptocurrencies carries risks, but investing through a recognized brand such as El Corte Inglés could encourage different clients who might still be reluctant.

Image | F Delventhal

El Corte Inglés is a traditional brand, but it is willing to modernize. They have recently decided to launch the…

El Corte Inglés is a traditional brand, but it is willing to modernize. They have recently decided to launch the…

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