Fashion Luxury Brand Farfetch To Start Accepting Payment via XRP -Breaking
- Farfetch (NYSE 🙂 is now part of the growing number of retailers that have accepted cryptocurrency as a valid payment option.
- The crypto payments will be limited to Farfetch’s private clients at first before expanding to customers from other regions.
- This operation will begin in full later in the year.
Farfetch is an online hub for luxury fashion and joins the increasing number of merchants who recognize cryptocurrency as a valid payment method. Farfetch will begin accepting cryptocurrency payments as of later this year according to TheIndustry.fashion publication, 10 June 2010.
Farfetch, a Berlin-based startup, will partner with Lunu to make crypto payments easier. Acceptable payment options include:,,,, (XRP) and three more.
The QR code will be scanned by customers using their smartphones to pay. Notably, the cryptocurrency payments will be limited to Farfetch’s private clients at first before expanding to customers from other regions like the United States and the United Kingdom.
José Neves, founder and CEO of Farfetch said:
As a platform company, we are continually innovating to serve as the bridge for the luxury industry to new technologies and environments where the luxury customer is today, and where they’ll be tomorrow. This move will allow our brand and boutique partners to adopt cryptocurrency.
Farfetch, an online platform for luxury fashion retailers selling products from over 3,500 brands around the globe, is Farfetch. The platform currently services customers from more than 190 nations and offers products in 50 different countries. Farfecth has revenue in excess of £743 million.
Lunu has announced that it is now partnering with Ripple. Ripple is a cryptocurrency-based digital payment system and protocol. The partnership would enable Lunu’s luxury retail clients to accept payment in cryptocurrency using the Liquidity Hub of Ripple.
Cryptocurrencies can be described as digital assets that are authenticated cryptographically rather than centrally by financial authorities.