To create a trading platform, the company entered into an agreement with Deloitte, a representative of the Big Four firms. The consulting company is expected to serve over 11 million clients. The new platform is called Bitcor and will support major cryptocurrencies, including Bitcoin, Ethereum and a number of other popular digital coins.
It is worth noting that the company registered the Bitcor name with the European Union Intellectual Property Office (EUIPO) on an accelerated basis to provide “financial services, financial transactions related to foreign exchange and foreign exchange trading” back in 2021. But the company, by law, had to wait a certain time to give any legal entity or individual the opportunity to speak out both against the registration of the Bitcor brand and against the El Corte Ingles initiative itself.
After months of internal debate about the wisdom of taking risks “in the world of alternative investments”, the English court decided to take the plunge and allowed Deloitte to start working with the Spanish retailer. Deloitte admits that it does not have deep enough competencies in the field of the crypto industry and therefore will operate with the support of Minos Global, a company specializing in Blockchain technology, created by former employees of Deloitte itself.
El Corte Ingles is not the only company in Spain that is opening up to investing in cryptocurrencies. Recently, the owner and operator of the Spanish exchange Six Group has partnered with one of the largest institutionally oriented global fintech companies, LMAX Group, to allow its clients to invest in cryptocurrency futures.
Source: ixbt
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