Gucci to Accept ApeCoin in US Stores
High-end luxury fashion house Gucci is expected to start accepting ApeCoin payments at its U.S. stores and boutiques, according to the company's Twitter and a recent Business Wire announcement.
"Excited to announce that Gucci will become the first major brand to allow customers to pay for purchases in-store with ApeCoin, via BitPay," the official ApeCoin Twitter confirmed shortly after the announcement went live.
The transactions will be processed via BitPay, a U.S.-based cryptocurrency payment service provider founded in 2011 by Tony Gallippi and Stephen Pair.
BitPay announced today that it will add ApeCoin and Euro Coin (EUROC), a Euro-based stablecoin by the creator of USDC Circle, to its service. The company is expected to announce further coin expansions in the future, too.
"We added ApeCoin and Euro Coin because customers of our luxurt merchant partners asked for it," Pair, who is currently serving as BitPay's CEO, said in a statement. "They asked, and we delivered."
BitPay also currently supports Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Shiba Uni, Wrapped Bitcoin, XRP, BUSD, DAI, GUSD, USDP, and USDC.
ApeCoin (APE) is the native token for the Yuga Labs and Bored Ape Yacht Club ecosystem. It is currently $6.50 per token and has a total market cap of $2 billion. The full circulating supply of APE has not been released, and its fully diluted market cap is $6.5 billion.
To learn more about ApeCoin, see Lucky Trader's guide here. And to learn about how to enter the Yuga Labs ecosystem, see Lucky Trader's introduction article here.