Luxury watchmaker TAG Heuer is launching online crypto payments for its customers in the US. The Swiss company is providing this service through collaboration with Bitpay, a crypto payment processor.
Techniques d’Avant Garde (TAG), which was founded more than a century ago, said clients within the United States will be able to buy the watches and accessories online with multiple cryptocurrencies. In an official statement, the watchmaker acknowledged that an increasing number of customers are using or earning digital currencies regularly. TAG wants to be a key player in the imminent transformation of the e-commerce and retail spaces.
The Swiss company is providing this alternative payment method with Bitpay. Customers can use a dozen cryptocurrencies, including Bitcoin, Bitcoin Cash (BCH), Ether and Dogecoin, etc. They can also use five stablecoins. TAG highlighted that customers can pay up to $10,000 per transaction with no minimum spending requirements.
Frederic Arnault, TAG CEO, said the company has been following cryptocurrency developments very closely ever since Bitcoin first started trading. He highlighted that TAG Heuer has all along known that the company will adopt the globally integrated technology in the near future despite the volatility that comes with it.
Bitpay, a US Georgia-based crypto platform, empowers companies with a payment gateway service. It allows businesses to integrate cryptocurrency payments on their platforms. Stephen Pair, co-founder, and CEO of BitPay expressed excitement about global brands like TAG Heuer stepping into the crypto space and seeking support from Bitpay to adapt their digital platforms.
Arnault, the CEO of LVMH, said that as a luxury brand they have to ensure that their entrance into Web3 would meet the standards of excellence. The company stepped into the crypto space with its in-house teams and support of BitPay. Arnault pointed out that it’s just the beginning of many exciting projects for TAG Heuer in the Web3 universe.