Internationally recognised jewellery brand Baunat, founded in Belgium in 2008, has become one of the first to accept cryptocurrency payments for its products.

The brand, which says it has always been quick on the uptake with new technologies, said that as its official position on cryptocurrencies is neutral it made no sense for it to ignore the payment option.

Cryptocurrencies include Bitcoin and Ethereum and rely on blockchain-based technologies which see users exchange real money for the digital currency which can then be stored in a ‘wallet’.

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Stefaan Mouradian, CEO, commented: “Crypto is undeniably the future of fintech. As an innovative company, it is a logical step to introduce cryptocurrency as a payment option on our website. With this addition, we are reaching out to a community valued over £2 trillion.”

Meanwhile, executive director, Steven Boelens, added: “Baunat has always been an early adopter when it comes to technology and in today’s economic climate it’s easy to see the added value of a payment technology that’s on the verge of exploding into the mainstream market.”

Baunat is not the first jewellery industry company to add cryptocurrency as an accepted payment method.

Just two weeks ago, Parify Group revealed it too would now begin accepting payment in Bitcoin and other digital currencies.

Read more on this below:

Parify Group leads the cryptocurrency charge as it begins accepting Bitcoin payments