Gericó Associates announces acceptance of Bitcoin and Ethereum as a form of payment

Gericó Associates has announced that, as of 1 January 2022, it will accept Bitcoin and Ethereum for charging at an international level

 The marketing, communications and business development consultancy for the legal sector, Gericó Associates, has announced that, as of 1 January 2022, it will accept Bitcoin and Ethereum cryptocurrencies as a form of payment on an international level.

According to managing partner Marc Gericó (pictured left), 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 finances and manage businesses”.

María Sol Rubio (pictured right), the consultancy firm’s Chilean partner, explains that this decision responds to needs already expressed by some of its clients: “We started to assess 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 offered to pay them 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.

Marc Gericó identifies transaction security, 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 is another 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.