New York Luxury Gym Club To Become First In City To Accept Membership Payments In Crypto: Report

New York's luxury fitness club Equinox will soon start accepting payments for gym services in cryptocurrency, local media reports have noted. This will make the gym the first in the city to endorse digital currencies in its business.

The company will partner with crypto payment service BitPay for the new infrastructure, as per reports released Sunday. However, Equinox is yet to make the official announcement.

This is in line with the gym's goal of making its members "fit digitally and physically."

Many walk-in businesses, including gyms, saw a hit in sales after the pandemic-fueled economic downturn. Equinox also reported a 122 percent surge in sales in Q1, 2022, compared to Q1, 2019.

Crypto experts expect Equinox to do even better in sales this quarter given its new cryptocurrency scheme.

As the cryptocurrency industry continues to see massive growth, businesses have started embracing crypto payments globally.

Customers of European electronics retailer Media Markt and the Australian convenience store chain On The Run (OTR) can also now pay in cryptos.

E-commerce giant eBay also dabbled with the idea of accepting crypto payments. The company’s CEO recently hinted that the firm wants to work more with younger generations and this can be done by embracing crypto payments.