American fashion giant Ralph Lauren will now accept solid money for clothing at a store in Florida.
The famous American fashion brand Ralph Lauren has partnered with BitPay to accept bitcoin payments at its new store in the Miami Design District. This will be the brand’s first retail store to accept bitcoin payments. Customers can pay for all of the brand’s signature styles directly from their preferred wallets. Refunds will also be provided in the same cryptocurrency used for the purchase, equal to the full dollar amount of the product being returned.
An ad Conducted by BitPay describes how “Ralph Lauren, the brand that defines modern luxury and timeless style,” provides “customers with new ways to interact with the brand and shop, including accepting cryptocurrency as a method of payment.”
The city has been at the forefront of bitcoin adoption, with the Bitcoin 2021 conference in Miami, Bitcoin 2022 in Miami Beach, and Bitcoin 2023 ready to return to Miami Beach as well.
Miami was also highlighted as one of the top five cities in the US for Bitcoin enthusiasts, citing industry events that take place there and Bitcoin everyday wear options, to which Ralph Lauren now contributes.
In addition, Ibex Mercado, the bitcoin payment processing company, onboarded 85 merchants in Miami following a merchant trial conducted at Bitcoin 2022. Options for bitcoin usage are only beginning to be recognized, as highlighted by the decision to accept Ralph Lauren bitcoin.
