Gucci to Accept Cryptocurrency Payments in US

The world-renowned luxury brand Gucci will accept cryptocurrency payments by the end of this month and plans to roll it out to direct-operated North American stores this summer, according to Vogue Business.

There are currently only five stores in the pilot, in Wooster Street in New York, Rodeo Drive in Los Angeles, the Miami Design District, Phipps Plaza in Atlanta and the Crystals store in Las Vegas.

Encrypted payments will be emailed to customers by Gucci with a link containing a QR code, and users can use their encrypted wallet to scan the QR code for consumption payments.

Currently, Gucci will accept Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, Dogecoin, and five dollar-pegged stablecoins.

Marco Bizzarri, President and CEO of Gucci said that:

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. 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.”

More brands have been increasingly testing blockchain technologies.

Leading Italian luxury fashion house Dolce & Gabbana sold a nine-piece collection of fashion NFTs dubbed Collezione Genesi or the Genesis Collection for a whopping $6 million.

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