Farfetch Adds 6 Cryptos to Payment Options in 37 Countries

FARFETCH, Cryptocurrency, Payment, fashion, 37 countries

Six cryptocurrencies are now being accepted as payment options for customers in 37 countries using the luxury fashion industry platform Farfetch.

Bitcoin, Ethereum, USD Coin (USDC), and others will be accepted as payment methods on Farfecth by customers with an existing cryptocurrency wallet, according to a Thursday (Oct. 6) press release. Payment is made via a QR code displayed on the screen at checkout. TripleA is Farfetch’s partner for processing cryptocurrency payments.

The company’s Platform Solutions is also planning to launch cryptocurrency payment capabilities for luxury brand clients with Stadium Goods, the release stated.

“Innovation is at the core of our business and we are continually looking to implement new technologies that provide an enhanced shopping experience for our customers,” said Farfetch Chief Marketplace Officer Edward Sabbagh in the release.

He added that new ways to pay are always of interest to shoppers, and crypto is especially “growing in importance with luxury customers.”

A signatory of the Crypto Climate Accord (CCA) inspired by the Paris Climate Agreement, Farfetch is also working to play a role as an enabler of change. Its Positively FARFETCH’s 2030 goals strive to set the company on a course to be climate positive by 2030. Further, the goals seek to advance further sustainability initiatives “linked to or enabled by blockchain technology,” according to the release.

A private sector initiative, the CCA works on behalf of the crypto community with the objective of decarbonizing the global crypto industry. Its primary goal is prioritizing climate stewardship and supporting the crypto industry’s transition to net-zero greenhouse gas emissions by 2040, the release stated.

Headquartered in London and founded in 2007 by Portuguese billionaire José Neves who serves as CEO and chairman, Farfetch started as a global eCommerce marketplace for luxury boutiques. Farfecth now works across more than 190 countries and territories selling goods and brands from more than 50 countries and over 1,400 global boutiques and department stores.

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