Canadian Jewelry Group Birks To Accept Bitcoin Payments

Birks Group jewelry bitcoin payments cryptocurrencies ethereum bitpay

One of Canada’s best-known jewelry retailers is now accepting payments in bitcoin, according to reports emerging today.

Birks Group, the country’s oldest luxury jewelry brand, is now inviting customers to buy jewelry in bitcoin thanks to a partnership with crypto payment processor BitPay, in a move it describes as allowing for “faster, easier and more secure” transactions for its customers.

Bitcoin payments have been rolled out at eight of the company’s 26 stores nationwide, with plans to increase the number of branches supporting bitcoin payments in due course.

The firm sells luxury jewelry from some of the world’s most aspirational brands, including Rolex, Bulgari, Cartier and Breitling, with plans to also include bitcoin payments in its two new Vancouver stores, Patek Philippe and Graff.

Jean-Christophe Bédos, president and CEO of Birks Group, said accepting bitcoin would be to the benefit of customers, as well as positioning Birks as an innovative, industry-leading retailer.

“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.”

BitPay chief commercial officer Sonny Singh said the move would allow Birks to better serve its global client base.

“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.”

The decision sees Birks become the latest jewelry retailer to embrace crypto payments, dating back to 2014 when retailer REEDS partnered with Coinbase to accept bitcoin through its online marketplace and retail stores.

Similarly, Marks Jewelers recently announced support for a range of cryptocurrencies including bitcoin and ethereum, while online gold dealers APMEX have also recently partnered with BitPay to accept bitcoin payments.

The move will in part make Birks more attractive to high net-worth customers, including those with fortunes amassed from cryptocurrency investing.

Despite current challenging market conditions for bitcoin traders, there remain a number of wealthy international clients with holdings in bitcoin and other cryptocurrencies, keen to buy luxury goods like those sold by Birks.