Farfetch now accepts crypto payments in 37 countries

By

Sandra Halliday

Published
Oct 6, 2022

Farfetch announced on Thursday that it now accepts payment in cryptocurrency for customers of its marketplace in 37 countries. It follows news this summer that the company would begin to accept such payments in a limited number of markets by year-end.

The launch sees it initially accepting six cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC). Customers with an existing cryptocurrency wallet can scan the QR code displayed on the screen at checkout to make the payment using cryptocurrency.

Farfetch Platform Solutions will also offer cryptocurrency payment capabilities for luxury brand clients with Stadium Goods launching imminently.

The company added that it’s a signatory of the Crypto Climate Accord (CCA) that’s inspired by the Paris Climate Agreement. This is a private sector-led initiative for the crypto community focused on decarbonising the cryptocurrency and blockchain industry.

Farfetch itself is “committed to becoming climate positive by 2030” and its participation in the CCA makes sense. It said that “driving further innovation in sustainability linked to or enabled by blockchain technology will be key”.

Chief Marketplace Officer Edward Sabbagh said: “Innovation is at the core of our business and we are continually looking to implement new technologies that provide an enhanced shopping experience for our customers. We are excited to offer cryptocurrency as a payment option. Customers are increasingly interested in new payment methods and cryptocurrency is growing in importance with luxury customers.”