French luxury department store Printemps has become the first major retailer in Europe to accept cryptocurrency payments. Customers at 20 Printemps stores in France will now be able to purchase fashion, accessories, and other luxury items using cryptocurrency.
According to a blog post from the organization, the implementation of cryptocurrency payments was carried out as part of a partnership with French cryptocurrency payments company Lyzi, which in turn uses the payment solution Binance Pay.
Printemps said the introduction of cryptocurrency payments in its stores “will allow more than 6,5 million French cryptocurrency users to benefit from new payment options thanks to the latest Web3 solutions. It will also improve the shopping experience of other customers thanks to functionality that allows for fast, secure and simple payments.”
The move could trigger a transformation of payment systems in the European Union, where cryptocurrency adoption has lagged behind regions like North America and Asia. It could also potentially influence policy decisions by the European Union and financial regulators, helping to create a more crypto-friendly business environment.
