Gucci is the first brand to accept ApeCoin as Payment Option in its U.S. Stores
ATLANTA–(BUSINESS WIRE)–BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, has announced support for two new cryptocurrencies this week: ApeCoin (APE) and Euro Coin (EUROC).
Consumers can now buy, store, swap and spend both ApeCoin (APE) and Euro Coin (EUROC) within the BitPay Wallet app. Businesses using BitPay are also now able to accept ApeCoin and Euro Coin as payment methods from any crypto wallet.
Building on its digital first approach to business, Gucci, one of the world’s leading luxury fashion brands, will become the first merchant to accept ApeCoin (APE) through BitPay, expanding the number of supported cryptocurrencies that it accepts for payment in its US stores.
Today 70% of Gucci’s full directly operated network in the United States already accepts payment in 10 different cryptocurrencies, with the remaining stores to be ready by the first week of August.
“We added ApeCoin and Euro Coin because customers of our luxury merchant partners asked for it,” said Stephen Pair, BitPay CEO. “They asked, and we delivered.”
ApeCoin (APE) is the native ERC-20 token of the Bored Ape Yacht Club NFT collection, a subsidiary of Yuga Labs. ApeCoin will be the primary token used across the Ape ecosystem, a world of Web3 games, experiences and communities. In addition to spending with BitPay merchants, APE holders can turn ApeCoin into cash instantly with the BitPay Card, plus buy gift cards for top brands and retailers. BitPay app users can also buy, store and swap APE seamlessly.
Euro Coin (EUROC) is a euro-backed ERC-20 stablecoin issued by Circle under the same full-reserve model as USD Coin (USDC). It provides instant access to euros across borders with low cost transaction fees and fast settlement. Businesses can accept Euro Coin payments from customers around the world as well as make payments to employees and vendors. Individuals can use the Euro Coin (EUROC) to shop with hundreds of BitPay merchants, send euros to friends and family, and also explore DeFi and Web3.
In addition to ApeCoin (APE) and Euro Coin (EUROC), BitPay supports 13 other cryptocurrencies including Bitcoin (BTC), Bitcoin on the Lightning Network, Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), XRP (XRP), as well as five USD-pegged stable coins BUSD, DAI, GUSD, USDP, and USDC.
Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.