Philipp Plein becomes the first luxury clothing brand to accept cryptocurrencies

A partnership with Coinify for 15 different cryptocurrencies

The German-born ready-to-wear brand named after its creator, Philipp Plein, has partnered with the cryptocurrency payments platform Coinify with the aim of offering its customers the possibility of paying in crypto. -active.

Fifteen different cryptocurrencies are accepted for purchases made in stores and on the Plein.com site.

Bitcoin (BTC); Bitcoin Cash (BCH); BNB (BNB); Bitcoin SV (BSV); Dogecoin (DOGE); Ethereum (ETH); Litecoin (LTC); Nano (NANO); OmiseGo (OMG); Paxos Standard Token (PAX); Qtum (QTUM); Tron (TRX); TrueUSD (TUSD); USD Coin (USDC); Tether (USDT).

A verification of the customer’s identity (KYC), as well as the source of the bitcoins will be requested when the order exceeds € 10,000. No information is given on the obligation to verify the origin of other crypto-assets.

This threshold of € 10,000 may seem elusive, but it is without knowing the prices offered by the luxury brand. A pair of shoes is sold there for around € 5,000, a leather jacket for around € 80,000 and a dressing gown for € 1,000.

Philipp Plein

Shoes sold on the Philipp Plein website – Source: Plein.com

👉 On the same theme – AMC cinemas will accept Bitcoin (BTC) payments by the end of the year

Fashion, luxury and cryptocurrencies, a trend with strong momentum

This possibility of paying in crypto-assets for different luxury items is not the fashion world’s first foray into this ecosystem. Some luxury and beauty brands, including watchmakers Hublot and Franck Muller already offer it.

“I am convinced that cryptocurrencies represent the future and my team and I have made a significant commitment in terms of time and resources, making all the necessary changes in order to adopt this new type of currency, I I am very happy to be able to offer our customers this additional payment tool and the flexibility that comes with it, ”said eponymous founder Philipp Plein.

However, it can be observed that luxury brands are increasingly interested in the adoption of crypto-assets by their customers. This can go through non-fungible tokens (NFTs) as for Louis Vuitton with their Louis mobile game, clothing available in metaverses like at Gucci, or identification and authentication systems allowing a direct link to be established between customers. and brand as offered by the French company Arianee.

👉 To read also – A perfume in NFT: Look Labs mixes luxury, art and technology

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About the Author: Erwan Gallo

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Hello there! Interested in the world of crypto-assets, I went from simple PowerPoint presentations to my friends to writing articles on the Internet. The crypto universe is so vast that it allows me to link many of my passions so why not share them with you?
All articles by Erwan Gallo.

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