Canada’s largest jewelry brand Birks Group will reportedly allow its users to pay for their products with Bitcoin as the company enters into a partnership with BitPay.
Canada Sees Continuous Adoption
Regardless of the recent declines in the cryptocurrency market, Bitcoin’s widespread adoption continues. In an official press release, Birks Group – Canada’s leading luxury fine jewelry brand, announced that it will begin accepting Bitcoin for its products.
The company has come to an agreement with BitPay, purportedly the largest blockchain payments provider, and will now accept Bitcoin (BTC) [coin_price] at selected stores throughout the country. Reportedly, Birks Group is also the very first luxury retailer in Canada to allow purchases made with Bitcoin.
Speaking on the matter was Jean-Christophe Bédos, President and CEO at Birks Group, who noted:
It is of great significance to Birks Group to launch BitPay. […] As an internationally growing brand, we believe that BitPay will benefit our customers as we look to align ourselves with these innovative capabilities that are on the forefront of technology.
Makes ‘Perfect Sense’
According to the Chief Commercial Officer of Bitpay, Sonny Singh, Birks Group’s makes “perfect sense.” He explained:
Birks Group has a large number of international shoppers so allowing them to pay in bitcoin makes perfect sense. […] Accepting bitcoin helps Birks Group to cater to their high-end international clients and get new customers while providing an innovative and safe payment option.
What’s more, the company’s move seems to fall in line with Canada’s overall cryptocurrency environment. Bitcoinist reported that the country has seen an increase in Bitcoin ownership in the last year.
It also appears that companies in different industries are embracing Bitcoin at rapid temps. Earlier this month, the country’s first Bitcoin-backed loan was issued by a local company, using the cryptocurrency as a collateral.
What do you think of the cryptocurrency environment in Canada? Don’t hesitate to let us know in the comments below!
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