Balenciaga Luxury Fashion House Accepts Payments In BTC And ETH

Advertisements

The Balenciaga Luxury Fashion House starts accepting payments in BTC and ETH making it the latest fashion brand to embrace cryptos as payment methods so let’s read more today in our latest cryptocurrency news.

The French fashion brand Balenciaga Luxury Fashion will embrace cryptos as a payment method for the products and the offering will be available at the company’s US Shops on Madison Avenue in New York and also at Rodeo Drive in Beverly Hills, LA. According to the recent coverage, Balenciaga will allow American customers to purchase clothes, shoes, and other products using BTC and ETH. The customers will also be able to pay in crypto when buying from the brand’s official website and it is expected to extend the offer to other regions and add more digital assets in the near future.

The recent decline of the crypto market could be an issue for numerous individuals and companies that have exposure to the asset class but this was not the case with Balenciaga. The company disclosed that it is thinking in the long term and the temporary fluctuations are not something new. Earlier this month, the Swiss Luxury Watchmaker Tag Heuer also dived into the world of crypto and accepted twelve digital assets as well as five stablecoins as a means of settlement on the US website. The company’s partner in the initiative was the BitPay payment service provider.

Similar to Balenciaga, Frederic Arnault the CEO of Tag Heuer disclosed the company was intrigued by BTC since it was launched also saying the recent price swings of the market are not a concern:

“This new crypto payment feature is just the beginning of many exciting projects for Tag Heuer in the Web3 universes.”

The German Fashion company Phillipp Plein International AG also enabled its customers to employ 15 cryptocurrencies as a payment method when purchasing products. Two of the assets are the leading ones by market cap – BTC and ETH. Including such an offering was not a major surprise for the brand who is a keen proponent of the sector and even its CEO is a strong supporter and crypto holder:

“I am a crypto investor, and I believe in the future of crypto – this is why I decided to offer this payment method in my stores and online…together, we are making HISTORY.”

Plein revealed that crypto payments accounted for around 3% of the fashion company’s $105 million online revenue back in 2021 while in his opinion, 2022 will be more successful and predicted that the settlements with digital assets will form up to $21 million of the yearly earnings.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Ethereum’s Average Gas Fee Drops Below $1.57, The Lowest Since 2020 Ethereum

Ethereum’s Average Gas Fee Drops Below $1.57, The Lowest Since 2020

Ethereum's average gas fees drop below $1.57 which is the lowest level since 2020...

By wpadminsonic164
Dim Glacier Upgrade Is Finally Live On The Ethereum Network Ethereum

Dim Glacier Upgrade Is Finally Live On The Ethereum Network

The Gray Glacier upgrade is finally live on the Ethereum network which will push...

By wpadminsonic164
BTC Slips Below $19K While ETH Drops 9% To $1000 Ethereum

BTC Slips Below $19K While ETH Drops 9% To $1000

BTC slips below $19K while Ethereum dropped by 9% to $1000 continuing its bearish...

By wpadminsonic164
ETH Key Indicators Show A Sharp Drop Below $1K To Occur Ethereum

ETH Key Indicators Show A Sharp Drop Below $1K To Occur

The ETH key indicators show a sharp drop below $1K that might occur soon...

By wpadminsonic164
LIDO Community Shows Intent To Keep ETH Staking Uncapped Ethereum

LIDO Community Shows Intent To Keep ETH Staking Uncapped

The LIDO community shows intent to keep ETH staking uncapped as they are voting...

By wpadminsonic164
Axie Infinity Ronin Bridge Is Back Online After $622 Million Hack Ethereum

Axie Infinity Ronin Bridge Is Back Online After $622 Million Hack

The Axie Infinity Ronin bridge is back online after the $622 million hacks, three...

By wpadminsonic164
ETH Topside Bias Remains Vulnerable As It Struggles Below $1.2K Ethereum

ETH Topside Bias Remains Vulnerable As It Struggles Below $1.2K

The ETH topside bias remains vulnerable as it struggles below the $1.2K price range...

By wpadminsonic164
Jetty Digital Will Allow Ethereum Staking For Institutions Ethereum

Jetty Digital Will Allow Ethereum Staking For Institutions

Anchorage Digital will allow Ethereum staking for institutions and they will be able to...

By wpadminsonic164

Latest Posts

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal Dogecoin

Begin Your Crypto Investing Journey With 100x Potential Gems: Gnox (GNOX), Shiba Inu (SHIB), And Dogecoin (DOGE) – TechCabal

Who doesn't want that 100X gem? It is one of the reasons most people...

By wpadminsonic164
Cardano testsnet effectively hard forked however here’s a place of concern – AMBCrypto News Cardano

Cardano testsnet effectively hard forked however here’s a place of concern – AMBCrypto News

Input Output Global (IOG) had earlier informed members of the Cardano ecosystem of the...

By wpadminsonic164
Why Market Crash ?🚨 Crypto News Today | Why Crypto Market Going Down Today Videos

Why Market Crash ?🚨 Crypto News Today | Why Crypto Market Going Down Today

Why Market Crash ? Crypto News Today | Why Crypto Market Going Down Today...

By wpadminsonic164
Emily Elizabeth Leaves Massive Chest Hanging In Tiny Polka Dot Bikini – The Blast Polkadot

Emily Elizabeth Leaves Massive Chest Hanging In Tiny Polka Dot Bikini – The Blast

Emily Elizabeth spills out of her bikini once again! The influencer recently delighted her...

By wpadminsonic164
Solid Altcoins to Look Into During the 2022 Bear Market – Neo (NEO), Kusama (KSM) and Mushe Token (XMU) – Cryptopolitan Stellar

Solid Altcoins to Look Into During the 2022 Bear Market – Neo (NEO), Kusama (KSM) and Mushe Token (XMU) – Cryptopolitan

Anyone that has been around the crypto industry long enough is no stranger to...

By wpadminsonic164
São Paulo court freezes records of Binance contact to Brazilian banks – The Brazilian Report Binance

São Paulo court freezes records of Binance contact to Brazilian banks – The Brazilian Report

Jul 04, 2022 16:06 2 min read The top state-level court in São Paulo...

By wpadminsonic164
Cardano Vasil Hard Fork is Now ‘Unavoidable’ after ‘Fruitful’ Testnet – Cryptonews Cardano

Cardano Vasil Hard Fork is Now ‘Unavoidable’ after ‘Fruitful’ Testnet – Cryptonews

Source: Adobe Stock / TANATPON Cardano (ADA)'s long-awaited Vasil upgrade, which aims to improve...

By wpadminsonic164
Bitcoin'un çöküşü, kripto parayı yasallaştıran El Salvador'u nasıl etkileyecek? Videos

Bitcoin'un çöküşü, kripto parayı yasallaştıran El Salvador'u nasıl etkileyecek?

Son dönemde Bitcoin dahil birçok kripto para biriminde sıra dışı değer kaybı yaşanıyor. Kasım...

By wpadminsonic164