Despite the recent dip in market prices, the fashion industry has stayed surprisingly loyal to cryptocurrency. Keen to stay ahead of the curve, many high-end fashion brands have adopted crypto payments in recent months. When the market dipped in the last few weeks, contrary to expectations, fashion houses didn’t stop their forward momentum into the crypto-verse. Xchange Monster news…
Fashion company Alo Yoga announced on Wednesday that they will now be accepting crypto payments online. They will also be the first fashion brand to pay their workers in crypto (if requested). This progression isn’t solely a push from Alo Yoga, luxury brand Farfetch is also now also accepting cryptocurrencies as online payment.
Xchange Monster (MXCH) is a trading platform dedicated to diversifying your digital currency portfolio across multiple assets. Their aim is to have ‘the world of crypto trading at your fingertips’, making it as easy and accessible as possible to trade in cryptocurrency. With their own Xchange Monster Token, could this digital currency be the future for trading in the fashion and retail industries? Read more about Xchange Monster on The Print.
About the New Xchange Monster Token (MXCH)
The Xchange Monster Coin (MXCH) is available for market purchase from next month, making it fresh, new, and intriguing. Innovative in its structure, Xchange Monster has an integral swapping and exchange feature to enable user-friendly conversions among all supported cryptocurrencies, making it both accessible and easy to use.
To further simplify coin use, Xchange Monster has a mobile app for transferring, trading, converting, and storing digital currency securely. It also has the use of the Xchange Monster Exchange that allows customers to trade cryptocurrencies or digital assets – very useful for trading in the fashion industry.
Other coins, such as Cosmos (ATOM), are also focussed on interoperability and have proven to be very successful. Cosmos (ATOM) aims to bring together different blockchains onto one singular platform in order to increase scalability, usability, interoperability, and sovereignty. As Cosmos (ATOM) currently ranks #27 on Coinmarketcap, clearly they are doing something right.
Luxury Fashion and Crypto
Fashion’s interest in crypto predictably started with luxury fashion brands such as Gucci, Balenciaga, Off-White, and Burberry (to name just a few). Most of these brands have since announced that they will accept crypto payments in their physical stores too, proving crypto’s success as a payment method.
For the company Farfetch, the new acceptance of crypto solidifies luxury fashion’s interest in the metaverse, despite the recent market crash. Farfetch has partnered with crypto company Lunu so that they don’t have to handle any cryptocurrency themselves. Lunu accepts a crypto payment from customers and exchanges it for fiat currency, then returns that fiat currency to Farfetch. As more high-end fashion companies accept crypto payments for items, this interest will (hopefully) eventually trickle down to high street stores, as we can see with Alo Yoga.
Xchange Monster (MXCH) and Crypto Payments
As more fashion brands accept cryptocurrency more people will be interested in purchasing coins. However, crypto is a volatile environment, where there are millions to be made and millions to lose. Xchange Monster (MXCH) is dedicated to educating people on crypto assets. They want to help people invest and trade with knowledge in order to reaffirm trading confidence.
Xchange Monster (MXCH) also has a team of people working to create a reputable and educational news platform for their users to stay up-to-date with the development of the crypto industry. For more information on Xchange Monster, read here.
Xchange Monster (MXCH)