Farfetch Luxury-Fashion Giant to Begin Accepting BTC, ETH, BNB Payments Soon

As reported by MarketWatch, integration of cryptocurrency payments in Europe continues as Farfetch Ltd intends to introduce them to its customers over the next few months via a partnership with Lunu platform.

Online fashion retail platform Farfetch Ltd. said it will begin allowing cryptocurrency payments in the coming months. Seven cryptocurrencies will be accepted initially, including BTC, ETH, and BNB. https://t.co/LuPIT1WjHv

— Wu Blockchain (@WuBlockchain) June 10, 2022

Seven cryptos to be accepted by Farfetch via Lunu PoS

Farfetch Marketplace intends to start accepting seven digital currencies, including the three biggest coins by market cap—Bitcoin, Ethereum and Binance Coin (BNB).

Within the next few months, these payments will be enabled for Farfetch's private customers. Later this year, the service will become available to clients in the U.S., U.K. and Europe. More locations for crypto payments will be added later on, the company promises.

The acceptance of digital currencies in stores will be possible thanks to a collaboration with German start-up Lunu, which deals with crypto payments and provides a point of sale for them. Customers will just have to scan a QR code in order to conduct a payment.

As a trial, crypto will first be accepted in high-end stores of Farfetch in the capitals of a few key EU countries—Paris, London, Milan, as well as at Browns, the retail chain owned by the company.

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Ripple partners with Lunu

As reported by U.Today earlier, Ripple fintech company based in San Francisco inked a partnership deal with Lunu as well.

Ripple will use its network, RippleNet, combined with Lunu's PoS terminals to allow upmarket retail companies to accept digital currencies in the European Union and the U.K.

Ripple's Liquidity Hub will also be utilized here. Luna and Ripple will help businesses convert crypto payments received from their clients into fiat money.