Gucci Begins Accepting ETH, DOGE, and Other Cryptocurrencies in U.S. Stores
According to the company’s latest move, Gucci now accepts Ethereum and Dogecoin in select U.S. stores, signaling luxury retail’s deeper integration with digital currencies.
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Fact Check
Multiple credible sources (Forbes, Bloomberg, WWD, Vogue Business) corroborate that Gucci began accepting cryptocurrency in U.S. stores starting in May 2022 and significantly expanded the program by August 2022. Evidence also supports the acceptance of a wide range of cryptocurrencies, with one source (Retail Dive) specifying '10 different cryptocurrencies' and others (WWD) mentioning the addition of specific coins like ApeCoin, which aligns with the statement's claim of accepting 'ETH, DOGE, and Other Cryptocurrencies'.
Summary
Gucci has expanded its payment options by accepting Ethereum (ETH), Dogecoin (DOGE), and other cryptocurrencies in select U.S. stores. This marks a significant step for the luxury brand in embracing digital currencies, aligning with broader retail industry adoption of crypto payments.
Terms & Concepts
- Ethereum (ETH): A decentralized blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps), with its native cryptocurrency being Ether (ETH).
- Dogecoin (DOGE): A cryptocurrency initially created as a joke, which has gained significant popularity due to its active community and celebrity endorsements, now widely used for transactions.