Equinox is jumping into the cryptocurrency world by accepting payment in cryptocurrency for its all-access and destination memberships at its New York clubs. The company began accepting cryptocurrency payments on May 3.
The annual all-access membership costs $4,044.15 while the annual destination membership runs $4,545.75, according to the Equinox website.
Equinox will announce plans for accepting cryptocurrency in other markets later, according to an FAQ page on the Equinox website.
The New York Post was the first to report the move. Club Industry has reached out to Equinox for more details.
A spokesperson for the brand told Fox Business: "More than ever, consumers are making luxury purchases through cryptocurrency, and offering cryptocurrency as a form of payment enables Equinox to continue to meet their community where they are — both digitally and physically — in support of members’ high-performing lifestyles. Equinox's vision is to inspire a connected community with personalized service and unparalleled experiences."
The cryptocurrency payments to Equinox will go through BitPay, which supports Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Wrapped Bitcoin, Shiba Inu Coin and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDP, and USDC).
Members will have to set up a BitPay ID before they can purchase their membership using cryptocurrency.