H&M Distributors starts Accepting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and other Cryptocurrencies

Top American wholesaler H&M distributors Inc, has started accepting Cryptocurrencies for payments.

H&M distributors (not to be confused with the Swedish retail brand Hennes & Mauritz) announced a partnership with Crypto e-commerce platform Chimpion which enables the company to accept Cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash, Zcoin and Bitcoin Diamond (BCD) for payments.

The Nevada based company was established in 1997 and specializes in providing replacement ballasts, lampholders, and lampholder accessories. It has now jumped on the Crypto bandwagon to enable faster international settlements and reduced fees.

Founder & CEO of H&M Herb Needham said:

“After more than 20 years in the business, we consider ourselves experts in specialty lighting, Accepting cryptocurrency payments allows us to share that expertise with even more clients by removing many of the barriers that made it difficult to sell internationally before. What sold us was the settlement system, which allows us to convert crypto payments to a USD equivalent right away.”

The company’s press release highlights the advantages of Cryptocurrencies as a payment system, it highlights features like faster settlement times for international payments, lower transaction fees, freedom from chargebacks as Crypto payments are immutable.

For some reason, the company also embraces the use of Bitcoin Diamond (BCD) which is a fork of Bitcoin (BTC). Even though it is not very widely adopted the company decided to highlight it on their press release.

Image Source: Press Release

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago