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Fashion house Balenciaga, founded in 1919 by Spanish designer Cristóbal Balenciaga, began accepting payment in cryptocurrency.
So far, this innovation will affect only retail outlets in the United States, in particular, the brand has already implemented crypto payments in its flagship stores on Madison Avenue in New York and Rodeo Drive in Beverly Hills, as well as on balenciaga.com.
While the organization chooses a provider of payment solutions, but it is already known that currencies such as bitcoin and ethereum are accepted for payment.
As for the volatility of cryptocurrency prices, the company stated that “Balenciaga thinks of cryptocurrency as part of a long-term strategy, and fluctuations in the value of the currency are nothing new.”
This month, the watch brand, owned by LVMH Moët Hennessy Louis Vuitton, also gave its customers the opportunity to pay with one of 12 cryptocurrencies, including Bitcoin, Dogecoin and Ethereum. Payment processing is handled by the BitPay processor.
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