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5 May 2022
Gucci Set to Become Newest Luxury Label to Authorize In-Store Crypto Payments
The Index Today
Italian luxury fashion brand Gucci revealed that it is set to accept payments in cryptocurrency, towards the end of May in five of its stores in the U.S., while also eventually broadening the service to all its outlets in the country.
As per Vogue Business, Gucci intends to accept payments in 12 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Shiba Inu, and five U.S. dollar stable coins. The company is also providing adequate training to its employees in a bid to better educate them about crypto, non-fungible tokens (NFTs), and Web3.
Gucci will start accepting crypto payments at its stores in Miami, New York, Las Vegas, Atlanta, and Los Angeles, reported Coin Telegraph. This comes after many notable luxury fashion labels, including Off-White, have begun enhancing their operations to accommodate digital assets including NFTs and accepting crypto payments.