The latest move by TAG Heuer And Shopify is to enable the two companies to include Bitcoin and other cryptocurrencies in their payment method.
TAG Heuer, a subsidiary of LVMH, and online marketplace Shopify now accept cryptocurrency payments, providing a significant boost to crypto adoption.
The announcement comes just days after luxury brand Gucci began accepting cryptocurrency payments in the United States.
The crypto push demonstrates a broader interest among brands and retailers in accepting Bitcoin and other cryptocurrencies in the United States. Several other companies, including theater operator AMC and coffee chain Starbucks, accept cryptocurrency in some form.
TAG Heuer and Shopify Now Accept Crypto Payments
TAG Heuer, a Swiss luxury watchmaker, has partnered with BitPay to accept cryptocurrency payments for online purchases in the United States, according to a press release. TAG Heuer will accept cryptocurrency payments of up to $10,000 per transaction, with no minimum transaction value.
Customers can use 12 cryptocurrencies to purchase timepieces and accessories. Bitcoin (BTC), Bitcoin Cash (BCH), Wrapped BTC (WBTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Shiba Inu (SHIB) are among them. Furthermore, five stablecoins are accepted: BUSD, USDC, DAI, GUSD, and USDP.
TAG Heuer CEO Frederic Arnault stated:
“We have been following cryptocurrency developments very closely ever since Bitcoin first started trading. As an avant-garde watchmaker with an innovative spirit, we knew TAG Heuer would adopt what promises to be a globally integrated technology shortly despite the fluctuations – one that will deeply transform our industry and beyond.”
Interestingly, Shopify’s expansion into crypto for payments has the potential to increase cryptocurrency mass adoption. Shopify has now partnered with Crypto.com Pay to allow merchants to accept payments in over 20 cryptocurrencies. Shopify also lets merchants accept cryptocurrency through Strike, Coinbase Commerce, and BitPay.
As a result, with an increasing number of customers regularly using or earning digital currencies, brands and retailers intend to lead the impending transformation of the e-commerce and retail spaces.
Bitcoin and other cryptocurrencies have plummeted from all-time highs. As a result, “Buy-the-Dip” opportunities are now available to investors. Acceptance of cryptocurrencies marks the beginning of the transition to the Web3 ecosystem. Indeed, many brands have entered the metaverse.
