Artefact London to accept crypto payments

By

Barbara Santamaria

Published
Mar 5, 2018

Artefact London is becoming the first bespoke tailoring business in the world to accept crypto payments, with customers now able to pay for made-to-measure suits, shirts and overcoats with LiteCoin, Bitcoin and Ethereum.

The company was founded by Tatyana Kozhevnikova, who was listed in Forbes’ 2018 30 Under 30 in arts and culture, and has a studio on New Bond Street.

It said the idea to adopt crypto payments came after considering the banking and political systems instability in South Africa, which is leading many African customers to diversify into Bitcoins and other tokens.

"At the end of 2017 I made a decision that as long as cryptocurrency carries value that can be legitimately converted into GBP & EUR, Artefact London will accept it as a method of payment,” commented Kozhevnikova.

"People told me I am crazy. To which I say the idea of a single currency Euro seemed crazy to some people not long ago too. If there are customers that might find it convenient to use a 'wallet' to pay instead of a Visa Card - I don't see why not give that option."

The company will start taking cryptocurrency payments this week, and hopes new technology will be in place in the near future to issue invoices.