German fashion designer Philipp Plein forecasted that crypto payments could generate up to $21 million of his company's revenue for 2022.
German fashion designer Philipp Plein forecasted that crypto payments could generate up to $21 million of his company’s revenue for 2022.
its customers to pay for clothes, shoes, and other products in 15 digital assets. The two leading ones – Bitcoin and Ether – were among the supported ones., the founder of the firm – Philipp Plein – revealed that such settlements accounted for around 3% of the organization’s $105 million online revenue in 2021. He believes that the figures will surge this year, envisioning up to $21 million worth of crypto payments by the end of the ongoing year.
The German designer is an outspoken supporter of the asset class and a HODLer. The CEO owns 170 BTC, worth approximately $6.6 million . Last summer, he said he believes in the future of crypto, raising hopes that it could generate further profits for his company and create more opportunities for clients.Another major brand in the fashion industry to accept digital asset payments last year was PacSun.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Biz: If you think crypto is bearish, you’re not paying attention, April 21–27, 2022Looking at the charts you might think nothing but bearish thoughts, but if you look elsewhere, like where venture capital is allocating, you'd see nothing but green.
Read more »
Making crypto conventional by improving crypto crime investigations worldwideFor crypto to see true mass adoption, it has to break the uninformed perception of its association with criminality. Education is the path to ending the stigma argues ex-FBI agent Mike Welsh.
Read more »
Crypto companies are poaching UK cyber police with triple pay: reportCoinbase and Chainalysis are among companies employing former law enforcement staff.
Read more »
First non-crypto company issues 'pre-IPO' equity tokens on European Digital Assets ExchangeHCS Pharma, a French biotech, is launching tokens registered on the blockchain ahead of a full IPO in Frankfurt later this year.
Read more »
Buenos Aires to accept crypto for tax payments, launch DLT-backed citizen profilesBuenos Aires mayor, Horacio Rodríguez, announced the capital city will run a program for crypto adoption, leading the embrace of blockchain technology in the country.
Read more »
How Crypto Payments Shift Revenue to Creators, Not PlatformsOpinion. James Kuk writes about the 'virtuous cycle' of community-centric, user-focused crypto platforms – as they begin to take power from tech giants. PaymentsWeek, presented by circlepay
Read more »