FARFETCH Offers Cryptocurrency Payment Option for Customers in 37 Countries
- Cryptocurrency payments are now available for all FARFETCH Marketplace customers in 37 countries
- The FARFETCH Marketplace will initially accept six cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), among others
- FARFETCH Platform Solutions will also offer cryptocurrency payment capabilities for luxury brand clients with Stadium Goods launching imminently
LONDON, U.K. October 6, 2022 – FARFETCH Limited (NYSE: FTCH), the leading global platform for the luxury fashion industry, today announced that it will offer cryptocurrency as a payment method on the FARFETCH Marketplace for customers in 37 countries.
FARFETCH will initially accept six cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), among others. Customers with an existing cryptocurrency wallet will simply need to scan the QR code displayed on the screen at checkout to make the payment using cryptocurrency.
FARFETCH Platform Solutions will also offer cryptocurrency payment capabilities for luxury brand clients with Stadium Goods launching imminently.
Additionally, FARFETCH is a signatory of the Crypto Climate Accord (CCA). The CCA, inspired by the Paris Climate Agreement, is a private sector-led initiative for the crypto community focused on decarbonizing the cryptocurrency and blockchain industry. The CCA’s objective is to decarbonize the global crypto industry by prioritising climate stewardship and supporting the crypto industry’s transition to net-zero greenhouse gas emissions by 2040. As the leading global platform for the luxury fashion industry, FARFETCH plays an important role as an enabler of change. In line with Positively FARFETCH’s 2030 goals, FARFETCH is committed to becoming climate positive by 2030, and driving further innovation in sustainability linked to or enabled by blockchain technology will be key to that.
Edward Sabbagh, Chief Marketplace Officer, FARFETCH, said:
“Innovation is at the core of our business and we are continually looking to implement new technologies that provide an enhanced shopping experience for our customers. We are excited to offer cryptocurrency as a payment option for customers shopping on the FARFETCH Marketplace. Customers are increasingly interested in new payment methods and cryptocurrency is growing in importance with luxury customers.”
Note to Editors:
TripleA processes cryptocurrency payments on FARFETCH’s behalf, supporting Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC) and more.
Farfetch Limited is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, Farfetch began as an e-commerce marketplace for luxury boutiques around the world. Today, the Farfetch Marketplace connects customers in over 190 countries and territories with items from more than 50 countries and over 1,400 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform. Farfetch’s additional businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands. Farfetch offers its broad range of consumer-facing channels and enterprise level solutions to the luxury industry under its Luxury New Retail initiative. The Luxury New Retail initiative also encompasses Farfetch Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as our Connected Retail solutions.
For more information, please visit www.farfetchinvestors.com.
SVP Communications, Global