Luxury watchmaker Tag Heuer Now Accepts Cryptocurrency Payment!

Luxury watchmaker Tag Heuer Now Accepts Cryptocurrency Payment!

Tag Heuer, a Swiss luxury watchmaker, has announced the acceptance of cryptocurrency payments for all online orders made on its US website.

Tag Heuer said in a press release on May 19 that the new crypto payment option is a collaboration with BitPay and would support 12 digital currencies, including Bitcoin, Ethereum, Dogecoin, and five dollar-pegged stablecoins.

Customers in the United States will not be required to spend a minimum amount, and the maximum transaction value will be set at $10,000. The new payment option was prompted by an increase in the number of customers who use digital currencies, according to the firm.

Furthermore, the business stated that crypto payments are the first phase in its Web3 effort, which would include the broad use of blockchain technology and NFTs.

“As a luxury brand we had to ensure that our entrance into Web3 would meet our standards of excellence and thanks to our nimble teams in-house and with the support of BitPay we are able to dive into this new financial world in the best way possible,” said Frédéric Arnault, CEO of TAG Heuer.

Several watchmakers, including Tag Heuer, have recently upped their crypto investments. Breitling has started issuing NFTs with actual watch sales, while Jacob & Co is now taking cryptocurrency payments as well.

Tag Heuer joins the ranks of other high-end fashion companies that have used blockchain technology. L’OFFICIEL has announced that some of its collections will be available in the metaverse.

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