El Corte Inglés is considering entering cryptocurrencies

What: The department store studies its entry into the cryptocurrency business, having applied for Bitcor and Bitcor El Corte Inglés trademarks.

Why is it important: It is another step in the company’s diversification strategy.

The company has made a double trademark application with the European Union Intellectual Property Office: Bitcor and Bitcor El Corte Inglés. Both under the classification of 'financial services; financial transactions related to currency exchange, and foreign exchange trading.' If the process progresses as planned, on June 28, both marks will be formally registered.

However, sources close to the company explain that there is no imminent plan to launch a cryptocurrency or services linked to that activity. It is a preventive register, with the aim of pre-reserved this name.