Gucci to accept crypto in leap for luxury industry
Gucci is tapping into the crypto crowd. The brand will accept cryptocurrency payments in some US stores at the end of this month, and plans to extend the pilot to all of its directly operated North America stores this summer. The move marks a major validation for the currency from a leading luxury brand.
Crypto payments are usually accepted in physical spaces through a QR code or NFC reader on an existing point of sale terminal that connects with a customer’s smartphone cryptocurrency app, similar to mobile credit card payments. A retailer can automatically convert the payment to fiat currency, such as US dollars, or keep the payments in the form of cryptocurrency. It will also accept Dogecoin, a “meme” cryptocurrency originally created as a joke.
Source
@CryptoWorldAnalysis
