- The crypto-friendly Balenciaga will be accepting crypto payments.
- The business is still undecided regarding the payment method it will utilize.
- This is just weeks after another major luxury brand, LVMH, revealed a similar plan.
High-end fashion house Balenciaga has decided to accept cryptocurrency as a form of payment. Crypto payment will be accepted at the brand’s flagship stores in Los Angeles, New York and on online stores.
The firm said in a press release that Balenciaga is thinking long-term about crypto, and fluctuations in currency value are nothing new. However, it is certain that cryptocurrency won’t be the only form of tender accepted by Balenciaga.
Balenciaga has yet to release more information on how it will use cryptocurrency or what type of digital asset it will accept. It did say that it will, for now, be accepting BTC and ETH. The brand joins a growing list of high-end retailers, such as brand Moët Hennessy Louis Vuitton, that have turned to cryptocurrency in recent months.