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Are fashion retailers embracing cryptocurrencies?

By Don-Alvin Adegeest

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Retail

Image: Lunu cryptocurrency payment provider

The fashion industry has been slow to adopt digital currencies and acceptance of crypto as payments. Last year Philipp Plein was one of the first major fashion brands to accept cryptocurrencies, with Off-White accepting announcing it would accept cryptocurrency payments across its flagship stores in Paris, Milan and London earlier this month.

According to Blockworks, a financial media brand, the acceptance of digital assets is further sign of the growing appetite among major brands supported by increasingly sophisticated payment infrastructure.

Off-White has reportedly partnered with Lunu, a Berlin-based payments provider that also facilitate digital payments for companies including Farfetch, Browns and the Chalhoub Group. In-store payments come via a sleek, modern Lunu terminal, with a glass and chrome exterior making it possible to use cryptos at the point-of-sale in retail purchases that are no more complicated or time-consuming than regular credit card transactions. For e-commerce Lunu can be integrated with a widget, payment link, button or API.

Crypto Emporium is one of the few online marketplaces where shoppers can buy fashion brands with cryptocurrency. As the crypto economy continues to evolve, Crypto Emporium allows shoppers to use digital currencies without the volatility of local exchange rates.

Cryptocurrency
Farfetch
Lunu
OFF WHITE