Spanish retailer El Corte Ingles to launch crypto exchange for its customers

The company will provide access to digital assets to more than 11 million of its customers

28.03.2022 - 13:40

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What’s new? One of the largest retailers and distributors in Spain, El Corte Ingles, in partnership with Deloitte, will launch a cryptocurrency exchange for customers of its stores, Elconfidencial reports. This decision includes the creation of a platform called Bitcor, which will allow customers to trade digital assets. Bitcor has been registered with the European Union Intellectual Property Office (EUIPO) since last year and has been approved by the European Commission.

Elconfidencial’s material

What is Spain’s position on cryptocurrencies? In February 2022, the governor of the Bank of Spain, Pablo Hernández de Cos, called on the country’s government authorities to strengthen control, regulation, and supervision of the cryptocurrency market. In his view, the Spanish state authorities should step up their efforts to monitor digital assets.

What is known about Deloitte? It is one of the world’s leading providers of consulting and audit services. It is part of the “Big Four” auditing firms.

Deloitte’s analysts published a report in March 2022 titled “State-sponsored cryptocurrency: Adapting the best of bitcoin’s innovation to the payments ecosystem.” According to the company’s experts, bitcoin can significantly improve the traditional financial system and help develop national cryptocurrencies.

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