Italian luxury brand of fashion and leather goods Gucci has started accepting apecoin (APE) as payment option in its US-based stores.
The token will be accepted via BitPay, who has been processing crypto payments for the Italian fashion brand for a few months now.
According to a press release, Gucci has become one of the world's first luxury fashion brands to accept APE through BitPay. However, the financial terms of the partnership remain undisclosed. Amid the news, APE's price jumped by 4% to $6.8. The token's market capitalization surged to over $2 billion.
Gucci first announced support for cryptocurrencies in May this year. The crypto payments are reportedly made with a link that Gucci sends via email to the customer. The link directs customers to a QR code that allows them to execute the payment.
