The latest cryptocurrency adoption cases are coming from the fashion brand – PacSun, as well as the charity organization – Nicklaus Children’s Hospital Foundation.
PacSun Also Caught The Crypto Wave
One more firm that enabled digital asset settlements is PacSun. The major brand in the fashion and retail space added bitcoin and other cryptocurrencies using the leading blockchain payment provider – BitPay.
Namely, those are Ethereum (ETH), Bitcoin Cash (BCH), Wrapped Bitcoin (WBTC), Litecoin (LTC), Dogecoin (DOGE), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD). Brieane Olson – President of PacSun – commented:
“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers.”
The California-based retail clothing brand is designed for teens and young adults. The fact that younger generations are much more oriented towards technological innovations and digital currencies makes PacSun’s move sound highly perspective according to its Co-CEO Michael Relich:
“The Gen Z audience, our primary consumer, is very tech-oriented, and we dedicate a lot of our efforts towards social media and e-commerce to align with their lifestyles and resonate with them on a more personal level. Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer BitPay as another payment option.”
Donations for Children in Crypto
Nicklaus Children’s Hospital Foundation also announced that people can now make donations in digital assets.
The non-profit charity organization that focuses on providing better healthcare for children will accept the following cryptocurrencies for its cause: Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Litecoin, Basic Attention Token, Amp, ChainLink, Dai, The Graph, Gemini Dollar, Stor, UMA, Zcash, and more.
Since the IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains taxation, the foundation enabled people to support its mission in a tax-efficient way. Nicklaus Children’s President – Michelle Boggs – commented:
“We are so excited to begin accepting cryptocurrencies as a donation method to benefit the children and families we serve every day. We hope that by adding this method of giving, we will reach more people who want to support the life-saving work of our hospital, and do so in a fast, easy, secure transaction.”