Balenciaga to accept Bitcoin and Ethereum in U.S. stores

The premium brand Balenciaga, part of Kering, announced the possibility of paying with cryptocurrencies at its flagship stores in the United States and on its online platform, according to WWD.

Initially the fashion house will begin accepting Bitcoin and Ethereum. In the future, the list of supported currencies and regions is expected to expand.

The payment service provider for implementing the option at Balenciaga has not yet been chosen.

On the volatility of digital assets, the company noted:

“Balenciaga is thinking about cryptocurrencies in the long term, and price fluctuations are nothing new.”

Earlier, a pilot project for accepting digital currencies in the United States was launched by another fashion house in the Kering group — Gucci. Customers have the option to pay with Bitcoin, Ethereum, Wrapped Bitcoin, Bitcoin Cash, Litecoin, Shiba Inu, Dogecoin and five dollar-pegged stablecoins.

In April, the fashion brand Off-White, owned by LVMH, added the ability to pay for goods with cryptocurrencies in a number of European stores.