Sub domain/E-commerce / different currency

Here's a question:

I have set up a name.com website/store that is currently operating in Euro's.

Because SQS does offer multi currency at check out I was planning on copying the site and creating a totally "new" account that I could set up in a different currency. Can I then point this new site to a sub domain of the original ie: sub.name.com?

I'll then use geofencing to redirect the client based on IP location to the new subdomain/currency site. Possible?

It sounds nice and clean and I don't want to set up multiple ccTLD's.

Advice, Experience anyone.

Where should I set up the gTLD for example? On the original SQS site? One the domain holders DNS?

Any advice would be very welcome.