For the time being, the brand will only accept cryptocurrency payments from the United States.
Tag Heuer is now available. Cryptocurrencies are at the heart of this project.
Tag Heuer, a globally recognized luxury watchmaker, recently partnered with BitPay, a crypto exchange payment system enabler, to allow customers in the United States to buy their products using crypto. Ethereum, Bitcoin, Dogecoin, Litecoin, Shiba Inu, and five other US Dollar-backed stablecoins are among the twelve cryptocurrencies currently supported as payment options.
The brand will be capable of supporting digital transactions of up to $10,000 with no minimum spending requirement by partnering with BitPay. Users will pay in cryptocurrencies through the BitPay service, which will then convert the payments into traditional fiat currency as well as deliver it to Tag Heuer. Tag Heuer will now support a number of well-known cryptocurrency wallets and exchanges, including Coinbase, Binance, Gemini Wallet, and others.
Frédéric Arnault, CEO of Tag Heuer, commented on the crypto market and the company’s new development, saying that the company has been monitoring cryptocurrencies since they first emerged, when Bitcoin began to show its presence in the market. This indicated that the company had been cultivating its interest in cryptocurrencies and was waiting for the right opportunity to strike.
Despite the active volatility that the cryptocurrency market faces, the CEO added that because the brand focuses on innovation, they knew that this new technology would undoubtedly be integrated into their business model in the near future, bringing evolution to the financial industry.
There’s No Need to Worry About Market Conditions
As previously stated, despite the volatility of the cryptocurrency market, not only well-known fashion brands, but also a variety of other brands from various industries have been working to start engaging with the cryptocurrency market.
This year, globally renowned brands such as Gucci and Off White made cryptocurrencies a legitimate payment option for those interested. However, when it comes to refunds, there is a major issue, as Bitcoin cash would return the same amount of bitcoin, irrespective of its current market value, which could have fallen or surged, resulting in a loss for either the customer or the company.