Balenciaga Joins the Crypto World: Top Fashion House Accepts Bitcoin and Ethereum Payments in the United States

Balenciaga has become the latest fashion brand to join the cryptocurrency train. The French fashion empire announced that it is ready to accept crypto payments across all major stores in the United States.

Women’s Wear Daily reported that customers could make Bitcoin (BTC) and Ethereum (ETH) payments to the French brand in selected U.S. stores, including its branches at Madison Avenue in New York and Rodeo Drive in Beverly Hills and online store www.balenciaga.com.

Balenciaga Eyes More Crypto Adoption

The clothing brand spoke on its plans to include stores in other regions following the customers’ reaction to the new move.

In addition, the company noted that it would add other cryptocurrencies once it selects a cryptocurrency payment provider. This move will allow more customers to purchase their products at any location easily.

Once Balenciaga chooses a payment provider, the list of supported cryptocurrencies may expand to include many digital currencies, including Shiba Inu (SHIB), Dogecoin (DOGE), and Cardano (ADA).

Crypto Volatility Doesn’t Disturb Balenciaga.

Investors are currently concerned about the inconsistency in the crypto market due to its recent meltdown, with over $1 Trillion wiped off the market two weeks ago. Therefore, this development from Balenciaga does not come at a perfect time.

However, the French Fashion Brand is undisturbed about the volatility of cryptocurrencies, as the famous fashion brand disclosed that it is “thinking long-term about crypto,” adding that “fluctuations in currency value are nothing new.”

Fashion Industry Embraces Cryptocurrency

The fashion industry is not new to the cryptocurrency market, as the demand for the digital asset class has grown over the years. As a result, famous brands like Gucci, John Richmond, and TAG Heuer have adopted cryptocurrency in recent years.

While most brands accept over five cryptocurrencies as payment options, Balenciaga said it would begin its crypto journey with the market’s two most prominent cryptocurrencies.

However, it is expected that the list of cryptocurrencies that Balenciaga will accept will increase above five when it eventually selects a payment provider.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.