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Glamnetic, a brand of magnetic eyelashes, has established a new partnership with BitPay, enabling the acceptance of cryptocurrency as a form of payment, according to a press release.
Bitcoin, ether, dogecoin and others will be accepted, the release said. Glamnetic will keep cryptocurrency sales on its balance sheet instead of converting them to US dollars.
Founder and CEO Ann McFerran launched the company in 2019 to develop magnetic lashes in styles that she would wear personally, the statement said. The company was worth $ 50 million after its first year.
McFerran said in the statement that she decided to accept crypto because she wanted to stay on top of payment trends and as an investor in crypto itself.
The change will help empower women, the statement said, as Glamnetics’ customers are predominantly women, and offering crypto payments will help more women enter the field.
While Glamnetic has quickly raised the bar in the beauty space with our easy-to-use transformational products, we also take pride in giving our predominantly female clientele the tools they need to learn about and get to grips with cryptocurrency. with the use of digital currency. as a method of payment, McFerran said in the statement. I want to encourage women, in particular, to get involved in the cryptocurrency revolution, and with our BitPay partnership, we can all learn, grow and embrace the future together.
PYMNTS reported that if crypto is to be accepted by the general public, it must be accepted by traders. BitPay CEO Stephen Pair, Fancy CEO Greg Spillane, and Jomashop Vice President Alex Sternberg said the transition from hype to everyday commerce is critical for crypto.
Digital currency could be on its way to becoming ubiquitous, as only 8% of people polled by PYMNTS have never heard of bitcoin or other popular cryptos.
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NEW PYMNTS DATA: STUDY ON CRYPTO-CURRENCY PAYMENTS – MAY 2021
About the study: U.S. consumers see cryptocurrency as more than just a store of value: 46 million plans say they plan to use it to make payments for everything from financial services to ‘grocery. In the Cryptocurrency Payments Report, PYMNTS surveys 8,008 cryptocurrency users and non-users in the United States to examine how they plan to use crypto to make purchases, what crypto they plan to buy. ‘use and how merchant acceptance can influence merchant choice and consumer spending.
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