Renowned Fashion Brand Gucci Diving Into Crypto, Will Accept Digital Asset Payments in Select US Stores: Report

Acclaimed fashion brand Gucci is venturing into the world of digital assets with the announcement that the company will soon begin accepting crypto payments in select stores across the US.

According to a new report by Vogue Business, the famed luxury line will begin welcoming cryptocurrency payments starting at the end of May with plans to expand the acceptance program to all of its North American stores sometime by the summer.

Gucci will accept payments in 12 digital assets, including leading crypto asset 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 BTC spin-off Bitcoin Cash (BCH).

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

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

As stated by Gucci president and chief executive officer Marco Bizzarri,

“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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Featured Image: Shutterstock/Jorm S