US fashion retailer Pacsun has announced that it is accepting payments in 11 crypto, thanks to a partnership with BitPay.
The reason for the decision to adopt crypto would be to stay close to its consumers who belong to Generation Z.
Pacsun accepts crypto, the fashion retail close to Generation Z
Pacsun, the Californian fashion retailer, appears to have chosen BitPay to accept bitcoin and other crypto, becoming the first fashion brand in the world to offer this service.
PacSun will be the first major brand in the fashion and retail space to accept #bitcoin and other #crypto using #BitPay. Crypto is a popular form of payment for those who grew up in the digital age. Read more: https://t.co/WbkE80qhYd Photo: @PacSun pic.twitter.com/6GLcqgTcS6
— BitPay (@BitPay) October 5, 2021
“PacSun will be the first major brand in the fashion and retail space to accept bitcoin and other crypto using BitPay. Crypto is a popular form of payment for those who grew up in the digital age”.
Reportedly, the motivation behind why the youth apparel brand is adopting crypto is because of its target consumer base, Generation Z, who grew up in the digital age.
Michael (Mike) Relich, Co-CEO of Pacsun said:
“The Gen Z audience, our primary consumer, is very tech oriented, and we dedicate a lot of our efforts towards social media and ecommerce to align with their lifestyles and resonate with them on a more personal level. Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer BitPay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens”.
Fashion retail and crypto payments
Thanks to the partnership with BitPay, Pacsun will start by supporting as many as 11 cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
Stephen Pair, co-founder and CEO of BitPay also left a comment:
“We are very excited that Pacsun has decided to adopt BitPay and add cryptocurrency as a form of payment,. As one of the first major apparel retailers to accept cryptocurrency, and a leading digital Gen Z fashion brand, Pacsun shares our goal to let everyone live life on crypto making them a natural addition to our growing list of top brands adopting cryptocurrency”.
Not only that, the BitPay crypto payments app also supports crypto wallets and exchanges such as Coinbase, Exodus Wallet, MetaMask, Blockchain Wallet, Electrum, Trust, Ledger, BRD, Gemini, Kraken and Binance.
BitPay and mainstream crypto adoption
Pacsun is not the first major American brand to choose BitPay to accept crypto payments. On the contrary, BitPay is so sought after that it seems to have become a conduit for mainstream crypto adoption.
Just yesterday, American movie giant AMC also announced that it will leverage its partnership with BitPay to accept payments in Dogecoin (DOGE), the “favourite” crypto meme of the CEO of Tesla and SpaceX, Elon Musk.
The CEO of AMC, Adam Aron, would have followed the wishes of Twitter users after a poll on the social network, where he discovered with great amusement the immense interest and active participation of the Dogecoin community.
DOGE was thus included among the cryptocurrencies adopted by AMC for admission to its cinemas, through the gift cards offered on the BitPay platform.