Hublot is presently working on a platform that will facilitate its customers to pay for their purchases using digital currencies. Ricardo Guadalupe confirmed this latest development in his company. According to the Hublot chief executive officer, his team is working on an online project that they will launch later this year.
We find this latest news in the cryptocurrency arena as favorable. It demonstrates that Hublot is among the many companies today increasingly getting convinced by cryptocurrencies’ promise and feasibility in the business realm. The Swiss luxury watchmaker’s new platform is set to permit a certain kind of cryptocurrency as a regular payment mode for their watches, based on the news posted online by Middle East-focused business publication Gulf Business.
At this point, Guadalupe did not provide extra pieces of information as to whether all timepieces across the Hublot portfolio will be available for sale on the forthcoming platform nor the costing mechanism. Plus, he is yet to shed light on the kind of cryptocurrencies that would serve as a valid payment mode for Hublot’s upmarket products.
Cryptocurrency enthusiasts pointed out that if Hublot’s upcoming digital platform goes ahead as intended, it will make the firm the first-ever Swiss high-end watchmaker to offer a dedicated mechanism for buying watches using cryptocurrency. Hublot’s online project currently in the works is not the first instance that the Nyon, Switzerland-headquartered brand engaged in the blockchain ecosystem or cryptocurrency.
Hublot showcased a Big Bang Meca-10 P2P timepiece in 2018. The company permitted its clients to buy this product using only Bitcoins. Additionally, this sale of a series of watches paid using the famous cryptocurrency took place in Hong Kong. Hublot sold 200 pieces with a financial firm specializing in Bitcoins, per the watchmaker. The watch was not accessible to the conventional or retail network and was merely available to the Bitcoin community.
Moreover, Hublot launched an e-warranty blockchain-based platform for its watches in 2020. This e-warranty authenticates and keeps the information about a timepiece’s whole lifecycle. The data comprises re-sale, sale, and production aimed to fight the counterfeit market effectively. We are pleased to learn about Hublot’s faith in cryptocurrencies’ validity as a payment mode. We believe that there would be an increasing number of companies today that are also persuaded with digital currencies being the future of payments.
Hublot is a watchmaker established in 1980, and it currently operates as a wholly-owned subsidiary of French luxury brand LVMH Moët Hennessy Louis Vuitton or LVMH. We reckon that its latest endeavor will surely benefit its upscale clients. We also believe that through the adoption of cryptocurrencies as an accepted payment mode, Hublot’s premium-quality timepiece offerings can eventually become accessible to the mainstream market and help the company’s sales surge.