(Vogue Business) Gucci has reportedly rolled out crypto payments at select stores in the US as it embarks on more expansion of the service in the future.
Some of the stores that are said to accept crypto payments include Rodeo Drive in Los Angeles, Wooster Street in New York and Las Vegas. The company plans to expand the service to more North American stores.
The digital assets that are currently being accepted are Bitcoin, Bitcoin Cash, Wrapped Bitcoin, Ether, Shiba Inu, Dogecoin, and some stablecoins. Gucci will reportedly convert the crypto into fiat currency.
The move by Gucci to accept crypto comes amid difficulties that first movers such as Tesla have faced. Concerns of tax implications to US residents and money laundering have hindered crypto acceptance among key merchants.
BTCUSD is down -0.36%, ETHUSD is down -0.48%
