Swiss Luxury Brand Hublot accepts Bitcoin payments

Published by
Nonhlanhla P Dube

Hublot, a Swiss watchmaker, and Tram Line 42 in Prague are two of the most recent entities to accept digital assets as payment.

By partnering with the bitcoin payment service provider BitPay, the Swiss luxury watchmaker Hublot enabled its customers to purchase certain limited products in cryptocurrencies.

Furthermore, Prague City Tourism collaborated with Global Payments to allow passengers of the iconic Tram Line 42 to purchase tickets in digital assets.

Hublot enters the crypto world

Accepting cryptocurrencies as a form of payment has become a trend among many companies in the fashion industry. Hublot, the renowned Swiss watchmaker, is the newest member of that club.

According to a recent announcement, the company has launched a limited collection of 200 watches called “Big Bang Unico Essential Grey.” Because clients can pay with cryptocurrencies, those products could only be purchased on Hublot’s US e-Boutique platform.

A single watch from that edition costs around R335K, which means that if you want to pay in bitcoin, you’ll need about 1 BTC (calculated at current prices).

Tag Heuer, another Swiss luxury watchmaker, said “yes” to such payments last month. On its US website, the company accepted major cryptocurrencies such as Bitcoin, Ethereum, and Shiba Inu, as well as five stablecoins, as payment.

In exchange for cryptocurrency, explore Prague

Another recent example of cryptocurrency adoption is Prague’s iconic Tram Line 42. One of the Czech Republic’s oldest trams is now used as a tourist attraction. Visitors can ride it to see the most popular sights in Prague, including the Prague Castle, Charles Bridge, and the Powder Gate.

According to local media, the Tram Line has partnered with Global Payments to allow travelers to pay for their experience in cryptocurrency. Petr Soukup, Director of Information Technology at Prague City Tourism, stated:

“Cryptocurrencies are a very popular source of money today. There is no reason why people should not use them for regular payments. They can now pay for a ticket with a piece of bitcoin or, for example, Ethereum.”

He went on to say that while clients could pay in digital assets, merchants could choose whether to accept the transaction in crypto or fiat (for example, Czech crowns).

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Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

Published by
Nonhlanhla P Dube
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