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French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.

Sunil Sharma - Coingape
2022-05-23 12:48
Balenciaga has revealed that it will now be accepting payments in crypto currency. The French luxury brand Balenciaga said it will adopt cryptocurrency payments such as Bitcoin and Ethereum in the United States.
Balenciaga will be receiving crypto at all of its flagship stores in the US, including Madison Avenue in New York, Rodeo Drive in Beverly Hills, and its website too. The brand also anticipated that other regions and e-commerce would emerge accordingly.
Meanwhile, deliberations are still being made as to which payment solution provider will be used. To begin with, Bitcoin and Ethereum will be accepted before other currencies are added in due course. Balenciaga indicates that it will be putting cryptocurrency into consideration for the long-term, and instabilities in currency value are nothing new.
A handful of other luxury retailers have started embracing cryptocurrencies too. In March, Off-White made a similar arrangement for payments in its flagship stores at Paris, London and Milan. Earlier this month, other brands like Tag Heuer and the LVMH Hoët said customers would have access to a diverse range of cryptocurrencies to pay with, including Bitcoin, Dogecoin and Ethereum, for checkout.
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