Balenciaga is the Latest Brand to Accept Crypto Payments

The CEO of the luxury brand Balenciaga is the latest company, which has announced that it will accept crypto payments. It is accepting Bitcoin and Ether crypto for payments. 

Madison Avenue in New York and Rodeo Drive in Beverly Hills establishment of the fashion show will accept cryptocurrency payments. Balenciaga's creative director, Demna Gvasalia has said that the brand would also accept crypto for website transactions.

French luxury fashion brand has also announced the debut of the Cristóbal Balenciaga: To the Moon NFT collection on the NFT marketplace on Crypto.com. The NFT collection is dedicated to the memory of Cristobal Balenciaga, the founder of the company, who founded the company in 1919 and was later taken over by the French luxury giant Kering.

Headquartered in Paris, the fashion house is not the only luxury brand that accepts cryptocurrency payments. Recently, many people such as TAG Heuer, Gucci, and Off-White have also announced that they will accept cryptocurrency payments.

Experts believe that the widespread adoption of crypto by luxury brands can lead to domino effects that can lead to the adoption of crypto in other sectors as well.