Italian luxury brand Gucci will start accepting cryptocurrency payments in some of its stores in America.
Customers will be able to pay using a number of cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
The service will be rolling out later this month at some of its flagship outlets, including Rodeo Drive in Los Angeles and Wooster Street in New York.
Gucci, owned by French Kering, joins a growing number of companies that have started accepting virtual currencies.
The company said it will also accept payments in Shiba Inu and Dogecoin – a so-called “meme” cryptocurrency that was originally created as a joke.
Customers paying at stores with cryptocurrencies will receive an email with a QR code to use with a digital asset wallet – a financial transaction app that runs on mobile devices.
QR codes – or quick response – are black and white squares resembling barcodes that can be read by mobile phones and have been increasingly used since the start of the pandemic.
The brand said it plans to introduce the policy to all North American stores it directly operates in the near future.
The announcement of such a prestigious brand marks another step forward for mainstream business acceptance of cryptocurrencies.
Gucci is the latest big name to announce that it will accept cryptocurrency as a form of payment.
Some of the world’s biggest brands now accept digital currencies, including tech giant Microsoft, US telecommunications company AT&T and coffee chain Starbucks.
In the past year, bitcoin has also become legal tender in two countries – El Salvador and the Central African Republic.
Since El Salvador said it would allow consumers to use cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.