Axios — YSL has announced plans to start charging customers for Bitcoin as a form of payment in its stores in the United States, Canada, and Mexico.
The move comes in response to the bitcoin’s rise in popularity and growing acceptance as a way to pay for goods and services.
“We are excited to welcome our first merchants to the Bitcoin payment options we offer, and look forward to making this the easiest way to use Bitcoin in the U.S. and Canada,” YSL CEO and President David Mott said in a statement.
Mott said YSL will continue to support the Bitcoin protocol in order to provide merchants with the flexibility to choose the appropriate payment option.
He also added that YSL is also working with the Department of Homeland Security to expand the ability of merchants to accept Bitcoin payments.
Mott also noted that YSl will work with major retailers to introduce Bitcoin payments to its stores, though it is unclear if the payment options will be available in all of its stores.
As part of its expansion into Bitcoin payments, YSL said it plans to add support for merchants using a “local currency” of their choosing, which will likely be the same currency that merchants typically use in the Bitcoin economy.
The announcement comes after Bitcoin’s meteoric rise and recent uptick in price.
Bitcoin surged to more than $13,000 per coin in late November, and the digital currency has since continued to rise in price, rising above $13k per coin by early December.