Europe’s biggest department store El Corte Inglés is launching its crypto exchange.

March 30, 2022

The Spanish company has partnered with Deloitte to help build the crypto platform.

The new crypto exchange will be called Bitcor, and will offer services in many different cryptocurrencies.

El Corte Inglés registered Bitcor last year with the European Union Intellectual Property Office to offer financial services and currency exchange and trading transactions

Creation of Bitcor is a part of El Corte Inglés’ diversification strategy to explore new markets.

The announcement to offer crypto services comes on the heels of European supervisory authorities warning consumers of the speculative nature of cryptocurrencies.

El Corte Inglés, established in 1935, has presence in many sectors including travel, property management and insurance.

El Corte Inglés is joining the likes of Overstock.com, Starbucks, and Whole Foods, who already accept cryptocurrencies.