Squirrels Research Labs Goes Nuts for Avnet’s New Crypto Payment Option

Tuesday, April 2, 2019 12:36 pm MST

Squirrels Research Labs (SQRL) is among the very first of Avnet’s customers to take advantage of our new partnership with BitPay to accept cryptocurrency payments. SQRL focuses on research projects designed to bring about the next generation of cryptocurrency mining hardware, and as such is deeply invested and active in cryptocurrency.

“Our clientele operate in the crypto space, so we’re often paid in cryptocurrencies,” says David Stanfill, CEO of SQRL. “The ability to conduct our transaction with Avnet in cryptocurrency closes the chain, as it were. Really connects all the dots.”

SQRL came to Avnet for customized products to be implemented in high-end Xilinx-based FPGA accelerators, which are in high demand among their clientele who operate in the same blockchain crypto processing market. Being able to utilize the same cryptocurrency that they get paid in to pay for their order with Avnet made for a significantly more efficient process, in terms of both time and money.

Stanfill remarks, “Ordering customized product, as we did from Avnet, typically means even more lead time, but paying for it with cryptocurrency saved us time and money. A win in every way.”

SQRL may be especially close to the crypto space, but Avnet’s move to accept cryptocurrency payments stands to help expand our reach and make our products and services available to more businesses, more quickly, ultimately saving them money and speeding their time to market.

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