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The recent crypto market decline, which sent Bitcoin (BTC) and Ethereum (ETH) to their lowest levels this year, has not stopped the march of crypto adoption worldwide as more companies plan to accept or have already started accepting digital currencies as payment for good and services. Among the latest businesses to join the trend is a luxury watchmaker based in Switzerland and Prague’s historic Tram Line No. 42.
Swiss luxury watchmaker Hublot has joined the growing list of fashion brands that have embraced crypto as a means of payment. The company is now accepting digital currencies such as Bitcoin (BTC) as payment for certain limited products, according to CryptoPotato.
To make it happen, the watchmaker has partnered with Bitcoin payment service provider BitPay. With the move, Hublot now joins the small but growing list of luxury brands that have started to accept crypto payments.
“Introducing the new #BigBangUnico Essential Grey, a limited edition of 200 pieces solely available online on the e-commerce platform http://hublot.com,” the company announced the availability of the crypto payment option for a new watch model in a Twitter post. “Exclusively on our Hublot United States eBoutique, clients will be able to shop using select Cryptocurrencies with BitPay.”
A single Big Bang Unico Essential Grey edition watch costs around $21,200. This means that if a buyer wants to pay Bitcoin for the purchase, he will have to part with around 1 BTC, considering that, at the time of writing, the crypto is trading at $21,178.38 per coin based on Coinmarketcap data.
Aside from the Swiss luxury watchmaker, Prague City Tourism has also started to accept crypto as payment for the tickets to one of the city’s oldest trams. It has partnered with Global Payments allowing passengers of the iconic Tram Line number 42 to use digital currencies to pay for the ride.
“Cryptocurrencies are a very popular source of money today,” Prague City Tourism Director of IT Petr Soukup said. “There is no reason why people should not use them for regular payments. They can now pay for a ticket with a piece of bitcoin or, for example, Ethereum.”
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