Luxury Brands Start to Take Cryptocurrency Payments

Online-luxury marketplace Farfetch will start accepting cryptocurrency payments, following Gucci and other upmarket brands in embracing Bitcoin and other forms of digital money in a bid to attract younger shoppers.

Farfetch said Friday that “VIP” customers will be able to start paying in Bitcoin, Ethereum and Binance Coin, as well as four other cryptocurrencies, over the next few months. It plans to extend the option to all U.S. and European customers later this year. Farfetch operates an online marketplace similar to Inc., with products from around 1,400 luxury brands including Burberry, Prada and Versace.

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