Gucci to Accept Crypto Payments in Retail Stores

- Advertisement -

Gucci to Accept Crypto Payments in Retail Stores – Gucci, an Italian high-end luxury fashion business, will begin taking cryptocurrency payments at five of its stores later this month, according to Vogue Business.

The five locations are on Wooster Street in New York City, Rodeo Drive in Los Angeles, Design District in Miami, Phillips Plaza in Atlanta, and Las Vegas (The Shops at Crystals).

According to the publication, Gucci would accept bitcoin, wrapped bitcoin, bitcoin cash, dogecoin, ethereum, litecoin, shiba inu, and five stablecoins pegged to the US dollar.

These are the coins that are supported by Bitpay, a famous crypto payment service that also accepts USDP, GUSD, DAI, USDC, and BUSD stablecoins.

- Advertisement -

Also Read: US Central Bank Raises Rates by Half a Percentage Point, Fed’s Powell Says Similar Hikes Are on the Table

“Gucci is constantly eager to adopt new technologies when they can give an enhanced experience for our clients,” said Marco Bizzarri, president and CEO of Gucci. 

He continued:

Now that we have the ability to integrate cryptocurrencies into our payment system, it is a natural progression for those clients who want this choice.

The fashion house also wants to accept crypto payments in all of its directly controlled North American locations by this summer, according to the publication.

Gucci has been stepping up its efforts in the non-fungible token (NFT) and Web3 space. A Web3-focused team was recently formed, and a few NFTs were issued.

Also Read: Former Nintendo President Believes Gaming Experiences Could Benefit From Blockchain And ‘Play to Earn’ Models

In addition, the fashion house is establishing itself in the metaverse. In The Sandbox, it is constructing digital real estate. The two firms earlier stated that they would partner to create an interactive fashion experience based on Vault, Gucci’s conceptual area and gathering place inspired by early recollections of the pursuit of beauty.

Don't miss

Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program

Bank of Spain to Launch Experimental Wholesale CBDC Digital...

Elon Musk Says Twitter Will Delete 1.5 Billion Dormant Accounts

Elon Musk Says Twitter Will Delete 1.5 Billion Dormant...

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners to Report Greenhouse Gas Emissions

Massachusetts Senator Forwards Bill Aimed at Forcing Crypto Miners...

Trevor Noah Bids Farewell to ‘The Daily Show’ in Emotional Final Episode Sign-Off

Trevor Noah Bids Farewell to 'The Daily Show' in...

‘Top Gun: Maverick’ Named Best Film of 2022 by National Board of Review

'Top Gun: Maverick' Named Best Film of 2022 by...

LEAVE A REPLY

Please enter your comment!
Please enter your name here