Famous Fashion Brand Gucci Dives Into Crypto, Will Accept Digital Asset Payments at Selected US Stores: Report

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Popular fashion brand Gucci is venturing into the digital asset world by announcing that the company will soon start accepting crypto payments at select stores across the US.

According to a new report by Vogue Business, the well-known luxury line will begin welcoming cryptocurrency payments starting late May with plans to expand the acceptance program to all stores in North America sometime in the summer.

Gucci will accept payments in 12 digital assets, including leading crypto assets by market cap Bitcoin (BTC), top smart contract platform Ethereum (ETH), dog-themed meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB), BTC alternative Litecoin (LTC). ), and the Bitcoin Cash (BCH) spin-off BTC.

Other virtual assets received include an ETH-bridged version of BTC, Wrapped Bitcoin (WBTC), and five unnamed dollar-pegged stablecoins.

Customers who wish to pay in-store with crypto assets can do so digitally using a link obtained via email or by scanning a QR code, according to the report. Initial stores enrolled in the crypto acceptance pilot program are located in Los Angeles, New York, Las Vegas, Miami and Atlanta.

As Gucci president and CEO Marco Bizzarri stated,

“Gucci always wants to embrace new technologies when they can provide a better experience for our customers.

Now that we can integrate cryptocurrencies in our payment system, it is a natural evolution for customers who want this option to be available to them.”

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