Amsterdam, February 22nd 2016 - The family-owned and Amsterdam-based Ace Jewelers Group has become the first high-end jeweler and Authorized Dealer for high-end watch brands in Europe to start accepting bitcoin payments. The company is partnering with bitcoin payment processor BitPay, which allows merchants to accept bitcoin and receive settlement payouts in their own local currencies.

Ace Jewelers, founded in 1975 in Amsterdam, is to become the first high-end jeweler and Authorized Dealer for high-end watch brands such as IWC, Breitling, Omega, Bulgari and Parmigiani Fleurier to start accepting payments by bitcoin, underscoring the pioneering spirit that the Amsterdam-based jeweler is known for.

In 2008, Ace was the first Dutch jeweler to enter the world of eCommerce with AceJewelers.com. In addition to its existing brick & mortar boutiques in Amsterdam city center, a dedicated eBoutique was developed, serving both as a way for customers to browse and educate themselves, as well as offering them a new channel for direct sales through the buying option. Ace Jewelers is authorized dealer for all brands listed on AceJewelers.com and its eBoutique was built with full consent of the manufacturers – a combination of qualities previously unseen. As such, Ace Jewelers acted as a pioneer in the often conservative and traditional world of high-end watches and jewelry.

Now, at the dawn of 2016, Ace Jewelers is taking the next step in its eCommerce strategy by offering a new payment method: bitcoin. Alon Ben Joseph, Co-CEO of Ace Jewelers, says: ‘I’ve been intrigued by bitcoin since I first heard of it back in 2010. While the technology seemed puzzling at first, bitcoin is now turning into a viable alternative to other payment methods such as PayPal and bank transfer. I think the time is right for the retail world to start embracing it on a bigger level and I am proud that Ace Jewelers is among the first retailers to start working with bitcoin."

"We’re pleased to be processing payments for a bitcoin first mover in the European luxury goods market,” said BitPay’s EMEA General Manager Marcel Roelants. “As a more secure payment method for high-value purchases, bitcoin will allow Ace Jewelers to reach more new customers online.”

About Bitcoin

Bitcoin is a network that allows a new form of monetary payment and medium of exchange. The currency is the first of its class as a decentralized peer-to-peer technology with no central point of issuance. The importance of bitcoin is incredible as it brings financial inclusion and a new economy to every region in this world. It also prevents money from being centralized into the hands of an elite few at the expense of the many. Bitcoin eliminates the need for trust in large organizations and governments.

About Ace Jewelers

The Ace Jewelers Group is owned and run by the Ben Joseph Family and consists of two physical boutiques and an international eBoutique. The boutiques, Ace & Dik Jewelers and Ace & Spyer Jewelers, are located in the center of Amsterdam in The Netherlands. Both have an extensive collection of high-end jewelry and watch brands, with names such as IWC, Messika, Bulgari, Omega and Parmigiani Fleurier being proudly displayed. In 2008 Ace Jewelers launched the eBoutique AceJewelers.com which turned Ace into a pioneering omni-channel retailer. Ace Jewelers won the 2015 Dutch eCommerce award for best eBoutique in its class.

About BitPay

With over four years of experience in handling bitcoin payments, BitPay is the first and most experienced bitcoin payment processor. BitPay allows merchants to accept bitcoin payments from customers while pricing their products and receiving bank deposit settlements in their local currency. The company has offices in North America, Europe, and South America and has raised over $32 million from top investors including Index Ventures, Founders Fund, and Sir Richard Branson.