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Luxury brands are considering accepting crypto payments, report suggests

As Bitcoin reaches new heights and becomes more popular, luxury brands are considering accepting crypto as payments, according to Reuters. Its increased value has caught the attention of major high-end fashion brands and houses which could bring further opportunities for those invested in the crypto space. The 159-year-old French luxury fashion department store Printemps recently announced it was partnering with Binance Pay and fintech Lyzi to accept cryptocurrency payments. In a press release, the company states the initiative “represents a key step in Printemps’ commitment to offering ever more adapted and innovative services, meeting the expectations of a connected and forward-looking clientele.” Interest has been generated as luxury brands eye up crypto It’s now thought that other major brands could follow suit, with Reuters reporting that David Princay, president of Binance France, said the company is in talks with other luxury labels and said: “There have been quite a few calls – it’s generated interest.” The publisher also spoke with luxury lighter and pen maker S.T.

 

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