What: Gucci has added ApeCoin and EuroCoin to the 10 cryptocurrencies they accept through BitPay payments.

Why it is important: While long-term gains remain uncertain and reports show declining interest, luxury retailers continue experimenting with crypto payments.

The Federal Reserve reported that only 3% of adults used cryptocurrency to make purchases or transfer funds while 19% of cryptocurrency users have paid for purchases with their coins. A majority do not use their digital tokens for shopping.

Gucci currently accepts crypto payments in 70% of its US store locations with plans to bring the remaining 30% of stores up to date. According to Gucci, their increased coin payment options come directly from consumer demand.

Gucci expands crypto payment options