Renowned luxury watchmaker and jewelry brand Jacob & Co. has teamed up with BitPay to begin accepting cryptocurrency as a form of payment. Through its new venture with one of the world’s largest Bitcoin and cryptocurrency payment providers, Jacob & Co. claims to now be the first luxury brand to accept cryptocurrency.
With expanding forms of payment, the luxury brand aims to evolve and attract new clientele by entering the rapidly growing cryptocurrency market. “We’re always looking for new ways to push our brand forward and be true disruptors,” says Benjamin Arabov, Jacob & Co. CEO. “This partnership will be a game-changer for years to come for our customers as this makes the purchase process effortless.”
BitPay specializes in blockchain payment processing and borderless payments with cryptocurrencies like BTC, WBTC, BCH, DAI, DOGE, LTC and SHIB in addition to select stablecoins as well. Due to BitPay’s elimination of transaction fraud and borderless payments, Jacob & Co. will receive transaction payments the following business day in USD.
In related news, Crypto.com was hacked for 4,600 ETH.