Why it matters: Although minor in the grand scheme of things, the move helps to further legitimize Bitcoin as a viable alternative to fiat currencies, both in terms of trust and increasing adoption. It may also appeal to those who prefer to reduce the paper trail of their financial transactions.
AT&T has become the first major wireless provider in the US to accept cryptocurrency as a way to pay your monthly bill online.
The nation’s second largest wireless provider is partnering with cryptocurrency payment processor BitPay on the initiative. BitPay, based out of Atlanta, Georgia, has been around since 2011, assisting thousands of merchants looking to accept Bitcoin as a form of online payment.
Kevin McDorman, vice president of AT&T Communications Finance Business Operations, said they have customers that use cryptocurrency and they are happy they can offer them a way to pay their bills with the method they prefer.
I’m not sure how much it’ll help with the perception that some have of Bitcoin and other cryptocurrencies as long-term investments rather than assets meant for daily trade but eh, it is what it is.
AT&T in announcing the partnership said customers will be able to select BitPay as a payment option when logging online or when using the myAT&T app.
Image credit: Smartphone with Bitcoin symbol by Wit Olszewski