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Farfetch Stock Pops After Saying it Will Start Accepting Crypto Payments -Breaking


© Reuters. Stock of Farfetch (FTCH), Boosted after It Announced That it Would Accept Crypto Payments

By Senad Karaahmetovic

The British-Portuguese firm Farfetch announced Friday that it will accept cryptocurrency payments from customers in the coming months.

Bitcoin ()Ethereum ()Binance Coin () are among the initial seven cryptocurrencies which can be used on Farfetch Ltd.’s digital platform.

The online boutique will accept payments from individuals at the start. Later in the year, plans are to expand the options for European, UK and American customers.

Lunu is a German startup that will provide Point of Sale terminals (PoS), which can be used to conduct in-store transactions. It has been successfully tested in smaller transactions at Off-White shops across Europe.

Customers can access their cryptocurrency wallets via Lunu terminals. They also have the option to make purchases by scanning a QR Code.

Farfetch stocks are up 1.4% pre-market Friday