September 30, 2022
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Crypto

Gucci to Accept Crypto Payments in Retail Stores – Featured Bitcoin News

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Gucci, a high-end fashion house with Bitcoin, Ether, Dozcoin and Shiva Inu, will start accepting cryptocurrencies in some of its stores this month. The company plans to acquire crypto this summer at all its direct stores in North America.

Gucci will start accepting crypto payments

Italian high-end luxury fashion house Gucci will begin accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday.

Five stores are located in New York City (Worcester Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Pipps Plaza) and Las Vegas (Crystal Store).

Gucci will accept Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litcoin, Dozcoin, Shiva Inu and five stablecoins pegged to USD, the release said.

These coins are supported by popular crypto payment service provider BitPay, which also supports GUSD, USDC, USDP, DAI, and BUSD stablecoins.

Marco Bijri, President and CEO of Gucci, commented: “Gucci always wants to adopt new technologies when they can provide a better experience for our customers.” He added:

Now that we’ve been able to integrate cryptocurrencies into our payment system, this is a natural evolution for customers who want to make this option available to them.

The publication added that the fashion house plans to accept its crypto payments this summer for its direct operated North American stores.

Gucci is stepping up its non-fungible tokens (NFT) and Web3 efforts. The company recently formed a Web3-centric team and released several NFTs.

The fashion house is also establishing a presence in Metaverse. It is developing digital real estate in the sandbox. The two companies will “collaborate to create an interactive fashion experience based on Vault, Gucci’s conceptual space and meeting place, inspired by the childhood memories of beauty exploration,” they announced earlier.

What do you think about accepting Gucci Store cryptocurrency? Let us know in the comments section below.

Kevin Helms

Kevin, a student of Austrian economics, discovered bitcoin in 2011 and has been a missionary ever since. His interests intersect between bitcoin security, open source systems, network influence, and economics and cryptography.

Image credit: Shutterstock, Pixabay, Wiki Commons

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