Nicklaus Children’s Hospital Foundation and PacSun are among the latest organizations that have added crypto payment options for their customers. The latest crypto adoption wave is coming from the PacSun fashion brand and the Nicklaus Children’s Hospital Foundation charity organization.
PacSun Catches The Crypto Wave
One more company that enabled digital asset settlements is PacSun. The main brand in the fashion and retail sector added bitcoin and other cryptos using the leading blockchain payment solutions provider, BitPay.
The digital assets include Wrapped Bitcoin (WBTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), and 5 USD-pegged stablecoins (USDC, USDP, GUSD, DAI, and BUSD). The President of PacSun, Brieane Olson, said:
“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 targets teens and young adults. The fact that the youth are more oriented towards technological innovations and digital currencies makes PacSun’s move seen highly perspective based on the statement by 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 Cryptocurrency
Nicklaus Children’s Hospital Foundation also highlighted that people can now make their donations in digital assets. The non-profit charity organization that focuses mainly on offering better healthcare for children will accept these cryptos for its cause: Basic Attention Token, Amp, ChainLink, Bitcoin, Ethereum, Bitcoin Cash, Dai, The Graph, Gemini Dollar, Dogecoin, Litecoin, Stor, UMA, Zcash, and many others.
Since the IRS classifies crypto donations as property, it means that they are not subject to capital gains taxation. Hence, the foundation enabled people to support its mission in a tax-efficient way. Michelle Boggs, Nicklaus Children’s President, said:
“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.”
