REEDS Jewelers partners with Coinbase

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REEDS logo.

REEDS logo.

Another high-profile client has joined with Coinbase to accept bitcoin: Wilmington, NC,-based jewelry retailer REEDS Jewelers. The company isn’t on the same level as other high-profile national merchants like Overstock, Expedia or Dish Network, but with an estimated $109 million in annual revenue, it’s also not exactly small mom-and-pop store. REEDS will offer bitcoin buying options on their web store, and will also accept BTC payments in their brick-and-mortar locations via a Coinbase mobile payment app.

Although it is generally considered on of the ten largest commercial jewelry chains in the U.S., the company isn’t quite coast-to-coast. Most of REEDS’ 65 retail locations are located in shopping malls in southern and midwest states. Its online store ships internationally, however, which may prove relevant for bitcoin orders. REEDS is the largest family-owned jeweler in the U.S.

In addition to fine jewelry and luxury watch offerings, REEDS also offers bitcoin-backed sales for investment-level purchases of gold ingots and loose diamonds. The company even offers free delivery via armored transport for purchases of gold ingots or loose diamonds over $25,000 (39 BTC).

Coinbase has gained several high-profile partners in recent days. The REEDS announcement coincides with the news that bargain-travel giant Expedia will also use the payment processor for its bitcoin purchases.

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