Farfetch.com, a leading global platform for the luxury fashion industry, has announced that it will begin accepting cryptocurrency payments on the Farfetch Marketplace later this year. Farfetch will initially accept seven cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), among others.

Additionally, Farfetch has partnered with global cryptocurrency platform, Lunu, for its omnichannel solution including sleek POS terminals for in-store transactions and an online widget. In a move to also help the luxury industry embrace these innovations, this partnership will enable Farfetch to share this expertise and capability with the Farfetch community of boutiques and brands that also want to offer this solution in their retail stores.

Farfetch will also offer cryptocurrency payment options to customers on the Farfetch Marketplace for all purchases. Initially, this feature will be introduced to Farfetch Private Clients in the coming months and will be expanded to all customers in the U.S., U.K. and Europe from late 2022, with other countries to follow. This follows the successful launch of cryptocurrency payments at Off-White’s flagship stores in Paris, London and Milan as well as Farfetch-owned luxury retailer, Browns. Secure cryptocurrency transactions at Browns Brook Street and Browns East, as well as the Off-White flagships, are processed using the Lunu POS terminal, which applies the best available cryptocurrency-fiat exchange rate at the time of the transaction. Customers are able to access their cryptocurrency wallets to pay for purchases by simply scanning a QR code from their smartphone. Lunu accepts more than 60 popular crypto wallets as a form of payment from Farfetch customers.