// Farfetch will start accepting payments in cryptocurrencies later this year
// The offer will begin with seven cryptocurrencies, including Bitcoin, Ethereum and Binance Coin
Luxury online retailer Farfetch has said it will start accepting cryptocurrency payments on its marketplace later this year, joining the growing list of retailers recognising one of the fastest growing alternative payment methods.
It will initially start with the retailer’s Private Clients before then expanding to all customers in the US, UK and Europe from late 2022, with other countries to follow.
The business partnered with Berlin-based cryptocurrency payment provider Lunu, and will initially accept seven cryptocurrencies including Bitcoin, Ethereum and Binance Coin.
The launch follows a successful trial run of the offer with Farfetch-owned retailer Browns and a selection of Off-White’s flagship stores in Paris, London and Milan.
On the trial run, José Neves, founder, chairman and CEO of Farfetch, said: “This was a crucial step to test and learn, and we are excited to share our technical and service know-how with our community.”
“As a platform company, we are continually innovating to serve as the bridge for the luxury industry to new technologies and environments where the luxury customer is today, and where they’ll be tomorrow. With this move, we look forward to empowering our incredible boutique and brand partners to embrace cryptocurrency.”