Luxury Brand Balenciaga to Allow Crypto Payments in June

Beginning in June, European luxury fashion house Balenciaga will start accepting payment in cryptocurrencies — namely, Bitcoin and Ethereum — illustrating how crypto adoption is accelerating worldwide, particularly in the fashion industry.

The company is expected to open up payment options in other cryptocurrencies later this year. In doing so, it joins fellow fashion brand Gucci in embracing digital currencies as a payment method at select stores. Beyond the two largest cryptos, Bitcoin and Ethereum, Gucci has already opened up payments in Litecoin, Dogecoin, Shiba Inu, and Bitcoin Cash  .