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TAG Heuer adopts crypto payment option

TAG Heuer
TL;DR Breakdown
  • TAG Heuer announces crypto payment option
  • The watchmaking company wants an exciting Web3 experience
  • Crypto payment has a spending cap of $10,000 per transaction

TAG Heuer has announced that it has enabled a crypto payment option for customers who prefer to pay for goods on its platform. The company is a powerhouse that creates, designs, and sells wristwatches and other fashion ornaments. Some days ago, it made the announcement stating that traders can leverage up to five top digital assets and five stablecoins to pay for their goods on its online platform.

TAG Heuer wants an immersive Web3 experience

According to the statement, TAG Heuer announced that it had inked a deal with Bitpay, which will make the crypto company the facilitator of all crypto-related transactions. The watchmaking outfit also said this signals its core move to make a grand entrance into the Web3 sector. The firm also said that it is presently exploring better ways to leverage new technologies like blockchain to provide full service to its users.

It also has plans to enter the NFT sector promising its customer base a comprehensive list of fun activities. According to the firm, its entrance into the web3 industry had to be an excellent transition by its standards. TAG Heuer noted that the partnership with Bitpay and the commendable work of its staff members was integral to the great transition that it was looking for. However, it points out that there is still much to come regarding crypto payments, signifying the addition of more tokens that users can use to check out their goods.

Crypto payment has a spending cap of $10,000 per transaction

The company CEO, Frederic Arnault, mentioned that the company has been keeping tabs on Bitcoin since it entered the market. He noted that the company was bound to integrate blockchain technology into its watch, seeing as it has achieved an avant-garde status. However, he said that TAG Heuer can still benefit from the sector even though the market is still shaking. TAG Heuer also noted in its statement that users could spend as much as they want using the digital assets. However, they expect users to pay nothing more than $10,000 for each transaction.

The company also said should a trader prefer to use the option; they have about 15 minutes to carry out their transactions before an automatic refresh is done to adjust its price. The world has seen a spike in users choosing to pay for goods and services via crypto this year. Although last year’s value is pretty much up there, this new year has seen more companies take up the initiative. Asides from most general market producers, luxury brand companies have been at the forefront of the adoption, providing crypto access to their users.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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