Gucci to Launch Crypto Payment Option for Luxury Items

Gucci to Launch Crypto Payment Option for Luxury Items

  • High-end fashion brand, Gucci is set to introduce a crypto payment mechanism at some of its stores in the U.S
  • The cryptocurrencies that will be accepted by the company include Bitcoin, Ether, Dogecoin, and Shiba Inu.
  • The company plans for all operated stores in North America to begin accepting cryptocurrency within the next few months.

Gucci has announced that a crypto payment mechanism is set to be implemented at its stores in the United States. The company is set to begin accepting cryptocurrency for the payment of luxury items in its Los Angeles, New York, Atlanta, Miami and Las Vegas stores. It also plans to expand the operation of crypto payments to other North American stores by summer.

Crypto payment

In the announcement from the company on Thursday, Gucci will begin accepting digital assets such as Bitcoin, Bitcoin Cash, Ether, Wrapped Bitcoin, Dogecoin, and Shiba Inu. The report, however, disclosed that the payment will be converted to fiat rather than held.

Announcing the plan on Friday, Gucci CEO Marco Bizzarri said that the company is always looking to embrace new technologies and provide enhanced experience for customers.

“Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.”

Read also: TikTok Launches Earning Platform for Creators

Recently, Gucci has ramped up its non-fungible toke and Web3 efforts. The company established a Web3 team and released some NFTs in the past few months.

It is also looking to create a presence in the virtual world metaverse. In addition to that, the fashion house is currently collaborating with The Sandbox to create an interactive fashion experience.

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