Multi-brand online store Farfetch will begin accepting cryptocurrency payments by the end of this year.
Farfetch will initially accept seven cryptocurrencies, including bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB). What other four assets the store will support is not yet known.
“Farfetch launched cryptocurrency payments in two very different environments – a mono-brand boutique with Off-White and a multi-brand boutique with Browns. This was an important step for testing and learning, and we are happy to share our technical and service know-how with our community. As a platform company, we are constantly innovating to serve as a bridge for the luxury industry,” said Farcetch founder Jose Neves.
According to the Wall Street Journal, Farfetch hosts about 1,400 luxury brands such as Gucci, Balenciaga, Chanel.