Gucci is now accepting crypto payments

As crypto gains popularity, the Italian luxury brand Gucci said that it will begin accepting digital currency payments in some of its stores in the United States at the end of this month.

This summer, the manufacturer of high-end handbags and other luxury products plans to expand the services to all of its directly run stores in North America. According to Vogue Business, the action represents a significant confirmation of cryptocurrency by a big fashion brand.

Gucci announced on Wednesday that it would accept payments in over ten digital currencies, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB), Litecoin (LTC), Dogecoin (DOGE), and five stablecoins pegged to the US dollar, like USDT, USDC and many more.

Customers can pay in-store using a link given to their email. The link will include a QR code that will allow customers to pay with their cryptocurrency wallets.

Crypto payments are typically made at point-of-sale terminals using a quick response or QR code or an NFC scanner. The customer’s smartphone can read the code and connect it to the cryptocurrency software. The store can keep the bitcoin payment or convert it to fiat cash such as the dollar.

Gucci stated that the service will first be available at flagship locations on Wooster Street in New York, the Miami Design District, Rodeo Drive in Los Angeles, The Shops at Crystals in Las Vegas, and Phipps Plaza in Atlanta.

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” Gucci president and CEO Marco Bizzarri said in a statement.

“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,” he added.

Gucci, which is owned by France’s Kering, is the latest high-profile brand to experiment with cryptocurrency payments.

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