Birks to Accept Payment in Bitcoin

RAPAPORT... Customers will soon be able to pay in Bitcoin at eight BirksGroup stores in Canada, the retailer said. The jeweler claims to be the first luxury retailer in Canadato accept the cryptocurrency. The service will be available at the end ofNovember in select locations, including its recently opened GraffDiamonds and Patek Philippe boutiques in Vancouver, the company noted Tuesday. The move will enable customers to make large transactionsmore securely, quickly and easily, Birks explained. The jeweler has partneredwith cryptocurrency provider BitPay to implement the project. "Birks Group has a large number of international shoppers,so allowing them to pay in Bitcoin makes perfect sense," said Sonny Singh, BitPay'schief commercial officer. "Accepting Bitcoin helps Birks Group to cater totheir high-end international clients and get new customers, while providing aninnovative and safe payment option." Bitcoin has dropped 37% to $3,992 since July 1, according to CoinDesk. Image: Maison Birks store, Toronto, Canada. (Bargainmoose)