Luxury Brands Roll Out Crypto Payments To Woo Wealthy Investors
What’s going on here?
Luxury retailers like Gucci and Balenciaga are hopping on the cryptocurrency bandwagon, aiming to lure affluent, tech-forward buyers with digital wallet options for their high-end products.
What does this mean?
The rising value of cryptocurrencies like bitcoin has led luxury brands to consider crypto payments, tapping into a fresh stream of wealth and catering to dedicated crypto fans. Big players like LVMH and Kering are joining the trend, with brands like Gucci trying out these digital transactions since 2022. It’s not limited to fashion: Printemps became the first European department store to team up with Binance and Lyzi to accept bitcoin and ethereum. This move has piqued the interest of the luxury sector,…
