Gucci, the world’s most iconic fashion house, announced that it will start accepting cryptocurrency payments at its stores. It’s more exciting that a luxury brand, Gucci accepts crypto to facilitate payment for its goods and services.
As part of the luxury brand’s wider strategy to keep pace with the digital age, Gucci will begin accepting payments in cryptocurrency. This makes Gucci the first major luxury brand to accept cryptocurrency payments at its physical retail stores.
Gucci Accept Crypto
Gucci, one of the most prestigious luxury brands in the world, has announced that it will accept cryptocurrencies as a form of payment from Wednesday.
The luxury fashion house has partnered with payment service BitPay to allow customers to buy items from Gucci’s website using bitcoin or Ethereum.
It is not immediately clear whether Gucci will accept other cryptocurrencies such as bitcoin cash, litecoin, and ripple — all three have been on a tear in recent weeks after the crypto market showed signs of recovery.
Gucci’s move comes amid an uptick in mainstream adoption of crypto, with several companies announcing plans to incorporate digital currencies into their business models in recent months.
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Gucci has partnered with BitPay to allow customers to purchase items from its online store using cryptocurrency. The luxury fashion brand is the latest to partner with BitPay.
Bitpay’s bitcoin sales platform already has several high-profile clients, including Microsoft.
This will also boost Bitpay transaction volume – as the luxury goods industry is an important market for them.
Gucci will now accept payment in up to ten cryptocurrencies including Shiba inu and Dogecoin. A link containing a QR code will be sent to customers’ email which they can use to initiate payments with their crypto wallet.
According to VogueBusiness, Some of the Gucci stores that will start accepting payment in cryptocurrency from the end of May are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.
Gucci said it was joining the crypto revolution because it was in line with its philosophy of innovation.
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