French fashion house Balenciaga has announced that they will begin accepting cryptocurrencies as a form of payment.
- Balenciaga has announced they will begin accepting cryptocurrency as a form of payment in the major US stores such as Madison Ave, NY, Rodeo Dr, CA, and on their website. “Other regions and e-commerce will follow” stated the company.
- Customers will be able to pay in Bitcoin and Ethereum, with Balenciaga planning to accept various other cryptocurrencies in the future.
- In relation to the current market fluctuations the company was questioned on whether or not this is a concern and in their eyes “Balenciaga is thinking long-term about crypto, and fluctuations in currency value are nothing new.”
- Balenciaga joins fellow fashion house Gucci as an adopter of Web3 and its technology, along with various other brands such as Off-White, Phillip Plein, Hublot, and Franck Muller.