Luxury retailers are trying to engage with a new generation of affluent consumers and some have identified cryptocurrency as a way of doing that
Online-luxury marketplace Farfetch Ltd. will start accepting cryptocurrency payments, followingin embracing Bitcoin and other forms of digital money in a bid to attract younger shoppers.
Farfetch said Friday that “VIP” customers will be able to start paying in Bitcoin, Ethereum and Binance Coin, as well as four other cryptocurrencies, over the next few months. It plans to extend the option to all U.S. and European customers later this year. Farfetch operates an online marketplace similar to Amazon.com Inc., with products from around 1,400 luxury brands including Burberry , Prada and Versace.
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