• May 07, 2022

Gucci, the high-end fashion house, has begun accepting cryptocurrency payments in a few of its stores.

Gucci, the high-end fashion business, will start accepting bitcoin, ether, dogecoin, and shiba inu in some of its stores this month. By the summer, all of the company's directly operated stores in North America will take cryptocurrency.

Gucci, an Italian high-end luxury apparel business, will begin taking cryptocurrency payments at five of its stores later this month, according to Vogue Business.

The five locations are on Wooster Street in New York City, Rodeo Drive in Los Angeles, Design District in Miami, Phillips Plaza in Atlanta, and Las Vegas (The Shops at Crystals).

Gucci would accept bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, dogecoin, shiba inu, and five stablecoins pegged to the US dollar, the publication conveyed.

These are the coins that are supported by Bitpay, a famous crypto payment service that also accepts GUSD, USDC, USDP, DAI, and BUSD stablecoins.

"Gucci is constantly eager to adopt new technologies when they can give an enhanced experience for our customers," said Marco Bizzarri, president and CEO of Gucci.” He added:

Now that we have the ability to integrate cryptocurrencies into our payment system, it is a natural progression for those customers who would like to have this option available to them.

The design business also wants to accept crypto payments in all of its directly controlled North American locations by this summer, according to the publication.

Gucci has been stepping up its efforts in the non-fungible token (NFT) and Web3 space. A Web3-focused team was recently formed, and a few NFTs were issued.

In addition, the fashion house is establishing itself in the metaverse. In The Sandbox, it is constructing digital real estate. The two firms earlier stated that they would partner to create an interactive fashion experience based on Vault, Gucci's conceptual location and gathering place inspired by early recollections of the pursuit of beauty.