Friday, July 1

The consulting firm Gericó Associates will accept Bitcoin and Ethereum as a form of payment

The Marketing, Communication and Business Development consultancy specialized in the legal sector in Europe and Latin America Gericó Associates has announced that it will accept cryptocurrencies as a form of payment. Starting next January 1, the firm will accept Bitcoin and Ethereum in its national and international collections.

According to your managing partner, Marc Gericó, the implementation of this measure comes after an exhaustive analysis: “We have studied, together with experts in this financial and legal ecosystem, the benefits of this decision. Finally, we will accept the two strongest cryptocurrencies on the market: Bitcoin and Ethereum. Definitely, this payment method is revolutionizing the way we understand finances and conduct business ”.

María Sol Rubio, Chilean partner of the consulting firm, explains that this decision responds to needs that some of its clients have already expressed: “We began to assess this option at the beginning of the year, when we were presented with a case of impossibility of collection with a great Argentine firm. Some local regulations make it very difficult to pay in foreign currency to suppliers abroad ”. Gericó adds that, shortly after, another London-based client proposed to pay for their services in Ethereum.

PwC, EY and KPMG, in some of its headquarters, as well as PayPal, BBVA, Starbucks, Visa, Norwegian and Mastercard, are some of the companies that have already accepted cryptocurrencies as a form of payment. For its part, BlackRock, the world’s largest fund manager, announced last January that it would allow two of its funds to invest in Bitcoin futures.

The growing adoption of cryptocurrencies by large institutional investors has caused these weeks Bitcoin to surpass Tesla in its market capitalization and continue its climb towards exceeding the value of silver and, even, the market capitalization of a giant like Amazon

Marc Gericó points out the security in the transactions, the capacity to reduce costs and the efficiency in the verification processes as the main benefits of the technology blockchain: “In addition, it responds to challenges such as inflation, the devaluation of the fiat currency, data protection and the difficulties posed by certain international payment operations.”

This decision represents a further step in Gericó Associates’ constant commitment to innovation applied to process optimization. The consultancy also works together with experts in artificial intelligence in the development of tools for processing large amounts of information, structuring processes and increasing efficiency in the day-to-day practice of law.

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