News

Europe’s biggest department store group, El Corte Inglés, is launching a crypto exchange

A top Europe retailer has a plan to launch its crypto exchange

El Corte Ingles, Spain’s third-largest retailer and distributor, will launch its own cryptocurrency exchange.

With the goal of offering “financial services, financial transactions related to currency exchange and foreign exchange trading,” the company registered the Bitcor name with the European Union Intellectual Property Office (EUIPO) via fast-track, hinting at the possibility of launching a crypto exchange since last year.

The objective, according to sources, is to capitalize on the company’s present customer portfolio, with an investor target already established. El Corte Ingles’ customers are small savers who, the company believes, could be interested in investing in cryptocurrencies through a well-known company rather than going to younger companies.

The startup has teamed up with Deloitte, one of the Big Four accounting companies, to help build a platform to serve the over 11 million users who have signed up for its credit card. Bitcor will be the name of the new exchange, which will provide such as bitcoin, ethereum, and others.

Customers of the company will have access to a variety of different investment alternatives through El Corte Ingles’ services, including this new platform.

However, El Corte Ingles is not the only company in Spain that is taking this kind of virtual assets seriously. Six Group, the current owner and operator of the Spanish stock exchange, recently collaborated with LMAX Group, one of the world’s largest institutionally focused fintech firms, to allow its customers to participate in cryptocurrency futures.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News

Victor

Recent Posts

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

3 minutes ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

52 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

1 hour ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

1 hour ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

2 hours ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

This website uses cookies.