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May 20, 2022

Despite Everything, Crypto Has Been Gaining Massive Adoption Lately

TAG Heuer, a Swiss watchmaker owned by LVMH, and online marketplace Shopify now accept crypto payments, which is a huge step forward for crypto adoption.

The announcement comes only days after Gucci, the luxury brand, began accepting cryptocurrency payments in the United States.

In the United States, there is a growing interest among brands and shops in embracing bitcoin and other cryptocurrencies. Several additional businesses, including AMC Theatres and Starbucks, accept cryptocurrency in some manner.

TAG Heuer, a Swiss luxury watchmaker, has joined with BitPay to accept cryptocurrency payments for online sales in the United States, according to a news statement. TAG Heuer will accept cryptocurrency payments up to $10,000 per transaction, with no minimum amount.

Customers can use 12 cryptocurrencies to purchase timepieces and accessories. Bitcoin (BTC), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Shiba Inu are some of them (SHIB). BUSD, USDC, DAI, GUSD, and USDP are among the five stablecoins accepted.

TAG Heuer CEO Frederic Arnault stated that the company has been closely watching cryptocurrency developments since Bitcoin first began trading. TAG Heuer, as an avant-garde watchmaker with a pioneering attitude, realized that despite the swings, they would adopt what promised to be a globally integrated technology in the near future, one that would profoundly impact their business and beyond.

Surprisingly, Shopify’s move into crypto for payments has the potential to accelerate cryptocurrency acceptance. Shopify has joined with Crypto.com Pay to allow businesses to accept payments in over 20 cryptocurrencies. Strike, Coinbase Commerce, and BitPay are all options for accepting cryptocurrency through Shopify.

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As a result, with an increasing number of customers regularly using or earning digital currencies, brands and retailers want to lead the e-commerce and retail spaces through the coming transformation.

Bitcoin and other cryptocurrencies have plummeted from their all-time highs. As a result, “Buy-the-Dip” chances are now available to investors. Acceptance of cryptocurrencies marks the beginning of the Web3 ecosystem’s shift. Many brands have even made their way into the metaverse.