Luxury brand Balenciaga will accept cryptocurrencies

Balenciaga will accept cryptocurrencies

The famous luxury brand, Balenciaga, has announced that it wants accept cryptocurrency as a new means of payment.

From this perspective, the company will start in the United Statesin particular at its flagship stores located on Madison Avenue (in New York), or Rodeo Drive (in Beverly Hills).

In addition to these physical stores, Balenciaga will extend this payment method to its website. Of course, other regions will be added later. This should start next month, that is to say during June.

Currently, the company is in the process of think about your new supplier for the implementation of this payment solution. Anyway, Balenciaga intends to accept, initially, Bitcoin (BTC) and Ether (ETH).

Although the market remains volatile, the famous fashion house indicated want to be involved in the long term in this approach.

👉 Read – What is Bitcoin?

Balenciaga joins other luxury brands

The adoption of cryptocurrencies, as a new means of payment, is not new to the big luxury brands. Indeed, some companies launched well before Balenciaga to adapt, probably, to a new type of clientele.

Recently, the famous watch brand, TAG Heuer, announced that its customers in the United States could pay their purchases in cryptocurrencies.

In addition, let us also mention the platform for the purchase and resale of luxury watches Watches World, the luxury ready-to-wear brand Philipp Plein and Gucci, which have followed this approach. The latter has also been very involved in this sector since it has also announced his entry into the metaverse of The Sandbox (AND).

Thus, this news demonstrates a considerable step towards the world of Web 3.0 from these big brands.

👉 To discover – TAG Heuer accepts cryptocurrency payments for its American customers

Source: Media Women’s Wear Daily (WWD)

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About the Author : Anthony Bassetto

It was in 2017 that I discovered cryptocurrencies and blockchain technology. Also, I would like to share with you the news of this sector, which is in full swing, so that you can be up to date with the latest news.
All articles by Anthony Bassetto.

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