The luxury brand Gucci will begin accepting cryptocurrency payments in US-based stores as reported by Vogue Business. Crypto payments will be accepted at 5 stores as Gucci's pilot into Web3-enabled payments. This move comes as most cryptocurrency markets are down 10-20% over the last week.
Accepted Currencies
Gucci will start by accepting more than 10 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, Litecoin, Shiba Inu, and 5 to-be-announced stablecoins. It has not yet been announced which payment provider, if any, Gucci has partnered with to achieve this integration.
Continued Acceptance of Crypto
Gucci is the latest brand to join in accepting crypto payments in a vast collection of companies and brands that already do so. Over the last few years, Paypal, Venmo, Cashapp, and many other companies have taken to accepting Cryptocurrency payments and wallets. GameStop is among other brands looking to expand operations in the crypto community, with a GameStop-branded Crypto Wallet releasing soon.