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TAG Heuer Officially Accepts Crypto For Online Purchases In the US

btcmanager.com 20 May 2022 23:06, UTC
Reading time: ~3 m

If you live in the US, you can now use your cryptocurrency to purchase a TAG Heuer directly through the brand’s e-commerce portal.

Fashion Industry in Crypto

The fashion industry and many high-end firms have been embracing cryptocurrency and Web3 since 2021. Accepting cryptocurrency as payment is a logical progression into the Web 3 realm.

As the movement from the physical to the virtual world accelerates, so does the use of cryptocurrencies for payment.

Despite this year’s crypto sell-off, cryptocurrencies are becoming more widely accepted for payment. Gucci, a Web3 supporter, and luxury apparel business, began taking crypto payments in its US outlets earlier this month.

This week, TAG Heuer, a Swiss luxury wristwatch, became the latest to accept cryptocurrency payments.

Swiss Luxury Watchmaker Accepts Online Crypto Payments

TAG Heuer said on Thursday that consumers in the United States might buy watches and accessories online using cryptocurrency.

“TAG Heuer now takes a total of 12 cryptocurrencies at checkout, thanks to BitPay, which specializes in specialized blockchain payment systems for enterprises.”

“We’ve been actively tracking crypto trends since Bitcoin first began trading,” stated Frédéric Arnault, CEO of TA. G. “We knew that TAG Heuer would adopt what promises to be globally integrated technology in the near future, despite the volatility, as an avant-garde watchmaker with a pioneering attitude — one that would significantly impact our industry and beyond.”

BitPay will be the Payment Channel

BitPay is a virtual currency processor that allows businesses like TAG to accept cryptocurrencies like bitcoin as payment. BitPay makes it easier for companies to enter the industry with automated services by removing technological barriers.

Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), and five USD-pegged stablecoins are among the twelve cryptocurrencies that TAG Heuer will accept.

BUSD, DAI, GUSD, USDC, and USDP are among the USD-pegged stablecoins.

There is no minimum expenditure, and US consumers can buy supported cryptos for up to $10,000 per transaction.

Buyers can easily choose “BitPay” when requested during the TAG checkout process and will then be transferred to select their desired currency and wallet (including exchangers), with the exchange rates guaranteed for 15 minutes.

Customers will be sent to TAG’s website once their order has been finished, where they will get confirmation from both BitPay and TAG once the transaction has been confirmed on-chain. 

“Despite the swings, we believe Tag Heuer will embrace what promises to be a globally connected technology soon, one that would profoundly impact our industry and beyond,” said CEO Frédéric Arnault in a statement. He went on to say that the danger of fluctuation is “inherent to the cryptocurrency market at this moment.”

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