TAG Heuer to accept crypto payments in US
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Swiss luxury watch maker TAG Heuer has announced that it is enabling online cryptocurrency payments for customers in the United States (US).
The new payment option is made available through the company’s partnership with crypto payment processor Bitpay.
“With an increasing number of customers using or earning digital currencies regularly, TAG Heuer intends to be a key player in the imminent transformation of the e-commerce and retail spaces,” the company said in a statement.
Tag Heuer buyers in the US can use cryptocurrencies like Bitcoin, Bitcoin cash (BCH), Ethereum, Dogecoin, Litecoin, Shiba Inu and also the five stablecoins. They can make make payments up to $10,000 per transaction.
“We have been following cryptocurrency developments very closely ever since bitcoin first started trading,” Frederic Arnault, CEO, TAG Heuer was quoted as saying in the statement. “As an Avant-garde watchmaker with an innovative spirit, we knew TAG Heuer would adopt what promises to be a globally integrated technology in the near future despite the fluctuations.”
“This new crypto payment feature is just the beginning of many exciting projects for TAG Heuer in the Web3 universes,” Arnault added.
Despite the jittery crypto market, there has been a wider acceptance of payments through cryptocurrencies.
Since last year, luxury brands and the fashion industry have accepted cryptocurrencies paving a natural way into the Web3 space.
Early this month, Italian luxury fashion house, Gucci announced that the customers would be able to purchase its products in the US with cryptocurrencies including Bitcoin, Ethereum and Litecoin.
Some of the biggest brands like Microsoft, beverage chain Starbucks, US telco AT&T, Tokyo headquartered tech company, Rakuten are now accept digital currencies.
Also, countries are coming are embracing Bitcoin as a legal tender. El Salvador and the Central African Republic are the two countries which made Bitcoin a legal tender last year.