Not to be confused with the Swedish clothing brand “H&M”, H&M Distributors has announced a new partnership with Chimpion to allow the lighting wholesaler to be able to accept a range of cryptocurrencies. The move comes as H&M Distributors aims to become more accessible in international markets and expand beyond America. Previously, H&M Distributors only accepted USD and the transactions fees would present a barrier for many international clients. Thanks to crypto, these fees are now less than a penny and will help H&M Distributors expand around the globe.
Making Top Quality Lightning Available to the World
By accepting cryptocurrencies, H&M Distributors can reduce transaction fees, eliminate currency conversion fees and release themselves from the fear of chargebacks. All of these factors allow H&M Distributors to pass the savings on to their customers, meaning cheaper lighting for the world. H&M Distributors has more than 20 years’ experience, so taking advantage of cryptocurrencies and the latest technology is the next logical step for H&M Distributors.
Pay in a Range of Cryptos
If you’re looking to get your hands on some new lighting equipment for your home, office or factory, H&M Distributors allows you to pay in a wide range of cryptos. H&M Distributors now accepts Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Diamond (BCD), Dash (DASH), Ethereum (ETH), Zcoin (XZC), and is planning on adding more digital currencies in the coming months as demand increases.
Crypto Payments Coming to An Industry Near You
World famous jewelers Birks Group has also moved to start accepting cryptocurrencies. Birks Group teamed up with BitPay to allow customers to pay instantly using a range of cryptos. Cryptos are becoming popular methods of payments for luxury items due to payment settling times and reduced fees. Elsewhere, the Fortnite merchandise store accepted Monero for a brief period. The crypto world went wild for Fortnite merchandise, making hundreds of transactions before the payment method was removed. This clearly shows a demand for crypto payments amongst consumers.
Will the Other H&M Accept Crypto?
When it comes to the Swedish clothing brand, it looks like H&M could be closer to accepting cryptos than many people think. VeChain launched a promotional video for their new app to scan blockchain tags. In the video H&M could be clearly seen, perhaps a nod to the fact H&M is working on a project behind the scenes with VeChain. Exactly when you will be able to use your crypto in store to buy clothes is not known, but it could be closer than we expect.
More firms are starting to accept crypto for payments, and with industry leaders like H&M Distributors doing so, many other players will also join the movement. This is great news for building contractors who are getting paid in crypto for their finished products, as they can spend their money on new supplies with ease.