Yet another win for cryptocurrency as a major electronic distributor in the US is set to start accepting crypto payments. H&M distributors used to be a distributor of fluorescent bulbs when it started in the 90s. But today, it’s more known for the distribution of lamp holders and other accessories.
According to the company representative, this move came as a result of the need to remove international barriers that come with sales across countries due to difference in currency. Since cryptocurrency has the same value everywhere, then it’s a good unified currency for international sales.
In another news, a major bank in the Philippines, Union bank, has launched the first two-way crypto ATM in the country. This ATM will allow users buy and sell crypto for cash. Though we don’t know which cryptocurrency will be supported yet, but we can be sure it’ll support popular coins we know.
Union Bank which is one of the top 10 banks in the Philippines based on assets made this decision as a result of the new regulation which is set to regulate the cryptocurrency industry and protect crypto investors. The move was possible based on the collaboration between Union Bank and the Central Bank of Philippines.