Gucci to accept crypto for purchases

Gucci has announced that it will accept cryptocurrencies in several US stores.

The fashion house is launching a pilot programme at the end of the month to test crypto payments at a number of locations, including: Gucci Wooster in New York; Rodeo Drive in Los Angeles; Miami Design District; Phipps Plaza in Atlanta; and The Shops at Crystals in Vegas.

The company, which calls itself a ‘digital first’ luxury brand, said the programme will be rolled out to Gucci’s full directly operated North America network in the summer.

Customers will be able to make purchases in more than 10 cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).

Gucci said that the move is part of the next phase of its Web 3.0 journey.

Last year Gucci opened an online concept store for restored and customised archive pieces.

The e-commerce platform, established by creative director Alessandro Michele, also includes designs from emerging designers.

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