Jul 1, 2022

Balenciaga stores started accepting payments in cryptocurrencies

Fashion house Balenciaga, founded in 1919 by Spanish designer Cristobal Balenciaga, began accepting payments in cryptocurrencies.

So far, this innovation affects only retail outletsin the United States, in particular, the brand has already implemented crypto payments in its flagship stores on Madison Avenue in New York and on Podeo Drive in Beverly Hills, as well as on balenciaga.com.

While the organization is choosing a provider of payment solutions, but it is already known that such currencies as bitcoin and ethereum are accepted for payment.

As for the volatility of the prices of cryptocurrencies, the company said that "Balenciaga thinks about cryptocurrencies as part of a long-term strategy, and fluctuations in the value of the currency are not something."

This month, the watch brand owned by LVMHMoët Henness Louis Vuitton also gave its customers the opportunity to pay with one of 12 cryptocurrencies, including Bitcoin, Dogecoin and Ethereum. The processing of payments is handled by the BitPau process.