High-end luxury fashion house, Gucci has announced it will begin to accept cryptocurrency payments. This new payment programme by Gucci will kick off in some U.S stores by the end of May and expand to all North American stores later in the year.
Customers will be able to buy Gucci’s high-end handbags and other luxury products with crypto using a QR code sent to their email addresses that lets them access their crypto wallets. The five-city pilot program will kick off in New York, Los Angeles, Miami, Atlanta, and Las Vegas.
Payments will be accepted in 10 cryptocurrencies including bitcoin, bitcoin cash, dogecoin, Ethereum, wrapped bitcoin, litecoin, Shiba Inu, and five stablecoins pegged to the U.S. dollar, per the release.
The company said, “Gucci has established itself as an early adopter of Web3 technologies, which include blockchain, and crypto payments mark another step toward Gucci blending its existing physical presence with its emerging Web3 efforts.”
Marco Bizzarri, Gucci president and CEO said, “Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our 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.”
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