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Several luxury retailers have reported a significant increase in volume of Cryptocurrency payments.
According to the news from TechFlow on February 27th, from mid-2023 to early 2024, several luxury retailers reported a significant increase in cryptocurrency payment volume. The founder of luxury furniture brand Juliettes Interiors stated that BTC payments have significantly increased in the past 12-18 months, especially during the recent Bull Market period.
The CEO of the high-end watch trading platform Kettle also confirmed the growth of BTC payments, pointing out that many transactions come from the Solana and Ethereum ecosystems. To meet the needs of different cryptocurrency holders, the platform has integrated DeBridge to achieve cross-chain payments.
Industry experts believe that encryption payments provide luxury brands with the opportunity to reach the Web3 user base. Currently, brands such as Rolex and Ferrari have started accepting encryption payments, while Singaporean department store chain Metro will also introduce stablecoin payment options. French luxury department store Printemps will also accept BTC and ETH payments.