The Leading luxury brand has added ApeCoin (APE) to its supported payment option.
Gucci, an Italian high-end luxury fashion house, has announced that its customers can now purchase fashion products from its boutiques using ApeCoin (APE).
The company stated in a tweet today that APE can be used as a payment method across selected Gucci boutiques in the United States. Gucci disclosed that it partnered with popular cryptocurrency payment provider BitPay for the initiative.
“Now accepting ApeCoin payments via BitPay across selected Gucci boutiques in the United States. Supporting APE further expands the range of cryptocurrencies available for Gucci in-store purchases. The move is yet another step in Gucci’s exploration of Web3 technologies,” Gucci noted.
Now accepting @ApeCoin payments via @BitPay, select Gucci boutiques in the USA expand the range ofcryptocurrencies available for in-store purchases, yet another step in the House's exploration of Web3.
— gucci (@gucci) August 2, 2022
Gucci’s Foray Crypto World
Following the announcement, the leading luxury fashion brand has now expanded the number of cryptocurrencies it supports for in-store payments.
Gucci first declared that it would be accepting cryptocurrency payments in May 2022. At the time, the Italian luxury brand stated that it would accept Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), and five stablecoins.
Despite recognizing the potential of cryptocurrencies, the Italian fashion house noted that the nascent asset class would be accepted in selected stores in the United States, including New York’s Wooster Street and Rodeo Drive in Los Angeles.
According to Gucci, making cryptocurrency payments will initially be supported in a few U.S. stores. However, the payment option will be rolled out in other Gucci stores in North America before the end of the year.
Marco Bizzarri, Gucci’s president and CEO, said in May that the company is always looking to adopt innovative technologies that will give customers a satisfactory experience, adding:
“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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