It is not just the U.S. targeting wealthy crypto holders but also the crypto-friendly Republic of Singapore.
Luxury Car Companies in the U.S. and Singapore Start Accepting Crypto
Dealerships have partnered with payment processing companies to facilitate the crypto purchase of luxury goods.
On Wednesday, BitPay announced a partnership with Porsche Towson in Maryland, USA.
Via Twitter, BitPay said,
“Turn your #crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases. Learn more: Porschetownson.com/new-inventory.”
Turn your #crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases. Learn more: https://t.co/g5eD13Y7tS#Porsche #crypto #bitcoin #doge #shib pic.twitter.com/Yj3yO3iIyK
— BitPay (@BitPay) April 19, 2022
At the time of writing, the 2022 Porsche Cayenne was on offer for $95,880, equivalent to 2.32 BTC.
BitPay is a leader in blockchain payment technology, allowing users to accept and send Bitcoin & cryptocurrency payments.
BitPay’s announcement coincided with news of another crypto payment platform facilitating crypto car payments.
This week, EuroSports Global announced a new partnership with Fomo Pay to accept crypto car payments.
EuroSports Global stated,
“EuroSports Global Limited, a leading distributor of luxury automobiles and premium smart electric motorcycles innovator, is pleased to announce today that it is now accepting cryptocurrency payments with FOMO Pay, the first Major Payment Institution to introduce a cryptocurrency payment method to merchants in Singapore.”
The company went on to say,
“By adding cryptocurrency as one of the payment options, the Group aims to attract new potential customers who are looking for new avenues to spend their cryptocurrency investments and address the growing demand for flexible and easy-to-use cryptocurrency payments. The customers will be able to pay seamlessly using a wide range of cryptocurrency wallets, including but not limited to Bitcoin, Ethereum (ETH), Tether (USDT), and USD Coin (USDC).”
Accepting crypto payments will allow the Group to reduce transaction costs, facilitate cross-border transactions, and provide borderless payment protection.
At the time of writing, the new Alfa Romeo Stelvio Quadrifoglio was on sale for SGD418,000. That was equivalent to approximately 7.4 Bitcoin.