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Gucci announces that it will accept cryptocurrency payments in US

Italian luxury brand Gucci has announced that it will begin to accept payments in selected cryptocurrencies across some of its American stores.

It is thought that this service will be rolled out to its flagship stores in Los Angeles’ Rodeo Drive and New York’s Wooster Street.

The brand is expected to accept popular currencies like BitcoinLitecoin, and Ethereum. They are also thought to accept payments in the form of Dogecoin – the first meme coin – and Shiba Inu.

To use this payment method, customers will be sent a QR code via email that will allow them to transfer the relevant funds using a digital wallet. This payment method has been taking off, especially in those markets that have increasingly been moving towards a cashless society.
Gucci has planned to introduce this payment method to all of its stores eventually, but for now, will be focusing on the flagship stores.

They are one of the latest in a line of mainstream businesses announcing that they will accept cryptocurrencies as a form of payment. Other major brands such as Starbucks and Microsoft have announced that they will also be doing so.
This also follows Bitcoin becoming a legal form of tender in the Central African Republic and El Salvador. Cryptocurrencies are being considered on a more mainstream stage.