Beverly Hills Teddy Bear Company is bringing cryptocurrency to the toy industry.
In June, the southern California-based plush manufacturer began accepting cryptocurrency as a form of payment.
“We are always trying to lead the way in our category, and we wanted to make it easier for our customers,” company founder David Socha said of the decision to expand the company’s payment options.
The company’s plush toy products are currently sold at big box retailers Walmart, Target, and Costco, as well as the website stuffedanimals.com, where customers can find pieces not available in stores. The company’s mass ordering custom design website, customplush.com, accepts cryptocurrency as a form of payment.
“Beverly Hills Teddy Bear Company wants their customers to be able to transfer assets online, without the necessity of banks,” said Jamie Emmick, Director of Special Marketing.
When ordering on customplush.com, buyers are able to to create their own design, purchase it in mass quantities, and have the option to pay using crypto, Emmick said.
“Crypto takes out the middle-man,” Socha added. “The whole purpose is efficiency and safety. These are two things we strive to achieve.”