Gucci will accept cryptocurrency in physical stores in the United States

Gucci will start accepting cryptocurrencies in its physical stores in the United States starting this summer, reports Vogue Business. Customers can pay with crypto from the end of this month at selected physical Gucci stores. After that, the plan is to roll it out to all of the brand’s brick stores in the United States by the end of the summer.

Payments can be made via a QR code which is in an email to the customer. The QR code can then be linked to the digital crypto wallet. A wide variety of cryptocurrencies will be accepted including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu. Also, the so-called “Dogecoin,” a “crypto meme” that was originally created as a joke, will be considered a valid payment method, Vogue Business shares.

The announcement comes after reports emerged last week that Kering, the fashion group of which Gucci is a part, hired a former Google executive as a new board member† Kering CEO Francois-Henri Pinault also shared at the meeting where this decision was made that Kering is currently exploring how they can implement the metaverse into their strategy.

The first stores to accept crypto payments will be in New York, Los Angeles, Miami, Atlanta, and Las Vegas.