El Corte Inglés plans to launch crypto exchange
Offering crypto services to 11 million clients
El Corte Inglés, the third-biggest retailer and distributor in Spain, has announced the launch of its own crypto exchange.
The exchange will reportedly be called called ‘Bitcor’ and offer the retailer’s 11 million registered customer access to cryptocurrencies including Bitcoin (BTC), Ether (ETH), and many others.
El Corte Inglés first registered the name Bitcor last year with the European Union Intellectual Property Office (EUIPO), with the focus to provide “financial services, financial transactions related to currency exchange and trading of foreign exchange," and got approved by the European Commission.
The company has partnered with multinational professional services network Deloitte to develop the platform. Because El Corte Inglé's clients are “small savers” from the retail sector, the company believes they could be interested in crypto through a known company rather than going to newer brands.
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