Italian Fashion Firm Gucci To Accept Bitcoin, Etherium, Others From May

Italian fashion brand, Gucci, will accept payments in cryptocurrencies in the U.S. beginning from May.

Gucci will accept cryptos in selected stores across the US.

The shops to receive the crypto assets are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta and the Shops at Crystals in Las Vegas, according to Vogue Business.

Gucci will also accept payments in more than 10 cryptocurrencies including: Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu and five stablecoins pegged to the US dollar.

The fashion giants will also accept Dogecoin, a crypto founded by Jackson Palmer.

Marco Bizzarri, Gucci president and CEO said, “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.”

Many brands have been testing blockchain technologies like crypto as a pay form, but the use has been frustrated by many Central Banks.

Brands like Microsoft, PayPal, AT&T and Starbucks have already adopted some cryptos as payment for their products.