Gericó Associates to accept Bitcoin and Ethereum as a form of payment

Our consulting firm, specializing in Marketing, Communication and Business Development for the legal sector will accept Bitcoin and Ethereum in its domestic and international payments from 1 January 2022

In our sector, our consulting firm, Gericó Associates, is a pioneer in announcing the acceptance of cryptocurrencies as a form of payment. From 1 January, the firm will accept Bitcoin and Ethereum in its national and international payments.

According to its 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 most solid cryptocurrencies on the market: Bitcoin and Ethereum. This payment method is definitely revolutionising the way we understand finance and do business.

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

PwC, EY and KPMG, in some of their 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. 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 seen Bitcoin overtake Tesla in market capitalisation in recent weeks and continue its climb towards surpassing the value of silver and even the market capitalisation of a giant such as Amazon.

Benefits of using Bitcoin and Ethereum

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

This decision represents a further step in Gericó Associates’ ongoing commitment to innovation applied to process optimisation. The consultancy firm 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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