GUCCI allows BTC payments

Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Dodgecoin, Shiba Inu, as well as five other stable currencies related to the USD (GUSD, USDC, USDP, DAI, and BUSD), are the cryptocurrencies with which customers of the prestigious Italian brand, GUCCI, will be able to make purchases in several of its stores in the United States.

In a brief press release, the luxury firm announced that this is a pilot program that will begin operating in the U.S. at the end of May.

To begin implementation, GUCCI will allow cryptocurrency payments in stores in Los Angeles, Miami, Atlanta, Las Vegas and New York. However, the firm contemplates the possibility of expanding this program throughout its network of branches in North America.

With these actions, GUCCI plans to follow the trend of other celebrities in the fashion world, as happened with the designer Phillipp Plein, who allowed payments with cryptocurrencies in its stores, from mid-2021.

In Plein’s own words, thanks to accepting bitcoin, as well as other digital tokens, he added to his company many consumers among the crypto community.

As well as Gucci, Balenciaga also told the media that it was working with a team specialized in crypto finance, to venture into the crypto world with this payment system.

Meanwhile, Kering CEO, Francois Henri Pinault, added that his brands’ purpose with cryptoassets is to “test and learn,” rather than wait and see. Especially, because of the legal and tax implications that payments with cryptocurrencies may have.

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