Luxury Watchmaker Tag Heuer Now Accepts Payments In Cryptocurrency

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TAG Heuer has announced that it will now accept online payments in cryptocurrency in US

TAG Heuer, a Swiss luxury watchmaker, has announced that it will now be accepting online payments in cryptocurrency in the US. Customers will be able to purchase timepieces using a dozen different cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Dogecoin and five different stablecoins. Users can spend up to $10,000 (~Rs. 7.76 lakh) per transaction using the different cryptocurrencies. 

With the move, TAG becomes the latest name in luxury brands to follow the crypto acceptance route. Gucci, Hubolt, Franck Muller, and Norqain are some of the other brands that also accept cryptocurrencies as payment options. 

"With an increasing number of customers using or earning digital currencies regularly, TAG Heuer intends to be a key player in the imminent transformation of the e-commerce and retail spaces," TAG said in its statement. 

"With an increasing number of customers using or earning digital currencies regularly, TAG Heuer intends to be a key player in the imminent transformation of the e-commerce and retail spaces," said Frederic Arnault, CEO. 

The company has partnered up with a US-based crypto payment gateway, Bitpay. “We are excited to see global brands such as TAG Heuer investing in the crypto space and seeking the support of Bitpay to adapt their digital platforms to the rapid transformation of e-commerce,” said Stephen Pair, co-founder and CEO of Bitpay. 

This is not the only cryptocurrency move made by LVMH, TAG's parent company that also owns other luxury brands like Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe among others.

The Bernard Arnault-owned company along with luxury house Richemont had announced