Jacob & Co. is the first luxury watch and jewelry brand to accept cryptocurrency as a form of payment. It has partnered with crypto exchange company CEX.IO to provide the platform to accept purchases using Bitcoin, Ethereum, and other verifiable digital currencies for Jacob & Co’s bold and innovative offerings. ., such as Astronomia and Twin Turbo Furious watches and fine jewelry with exceptional gemstones and craftsmanship.
Benjamin Arabov, CEO of Jacob & Co., says being first in this space is nothing new for Jacob & Co. For 35 years, the luxury brand has been a disruptive force in the jewelry industry and of watchmaking, creating revolutionary watches with a vital influence. on style and fashion globally.
“Jacob & Co is known for being innovative in using new technologies to create never before seen watches and jewelry. The adoption of cryptography is inevitable and the technology behind it cannot be ignored. We felt that now is the time to support innovative technology that will soon be used globally in several different industries, ”Arabov said.
CEX.IO – with offices in the UK, US, Gibraltar, Cyprus and Ukraine – works with several brands to enable cryptocurrency payments, including media platforms and product companies from consumption. Arabov said he chose CEX.IO because of its outstanding reputation in this new currency market. “CEX.IO is a trusted and internationally renowned cryptocurrency exchange that is on track to process over $ 14 billion in crypto transactions in 2021. We selected CEX.IO because of its positive reputation and credibility in space. “
Konstantin Anissimov, Executive Director of CEX.IO, says Jacob & Co. is the perfect brand to enter this new financial world.
“Jacob & Co. is certainly establishing itself as a premium brand passionate about creativity and the search for solutions previously deemed impossible. It combines immense precision in its craftsmanship, continuous innovation and bold choices in its design. This approach is important to us at CEX.IO. We work in a technology that leaves little room for error. At the same time, we are innovating on the very exciting frontier of finance which requires original thinking ”,
The value of cryptocurrencies has skyrocketed in the 11 years that the first cryptocurrency, Bitcoin, began trading. The cryptocurrency’s market cap topped $ 2 trillion in April, doubling in value since February. Anissimov says the new currency is not only here to stay, but thrives in the retail sector. “There is a huge and growing community of people who use crypto and even earn their main income in crypto. This provides a large audience for e-commerce businesses. It makes sense for cryptocurrency to grow and develop more in retail. Accepting crypto as a form of payment can help increase market share for retailers and facilitate the transformation of e-commerce as a whole. “
In fact, Anissimov says, it has similarities to credit cards when it comes to public acceptance.
For Arabov, he sees this new financial frontier as another way to be in close contact with clients of Jacob & Co., many of whom are cryptocurrency users.