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Crypto Is Now Accepted at a Singapore Luxury Car Company

Crypto Is Now Accepted at a Singapore Luxury Car Company

5-Jahreszeiten-Angelschlafsack

EuroSports Global, a Singaporean luxury automobile dealer, has begun taking crypto payments for Lamborghini and Alfa Romeo vehicles.

EuroSports has collaborated with Fomo Pay, a digital payments startup, to take payments in BTC, ETH, USDT, and USDC for its cars. The startup sees a need to meet “the rising need for flexible and easy-to-use crypto payments” while also lowering transaction fees and simplifying international transactions utilizing crypto.

According to Fomo Pay CEO Louis Liu, the MAS granted the company a digital token payment license in September 2021. 2Tone Antique, a merchant, specializing in vintage high-end timepieces, and Luxehouze, a renowned marketplace for luxury commodities in Asia, use the firm’s intermediary services.

2Tone Vintage intends to attract new customers using Fomo Pay, while Luxehouze wants to prevent currency swings.

Despite the Monetary Authority of Singapore’s warnings that bitcoin trading is dangerous, several establishments in the region are already taking cryptocurrencies as payment.

“Singapore is one of Luno’s main markets, given its position as a worldwide financial center with a progressive business climate,” Sherry Goh, country manager for Singapore at London-based crypto exchange Luno, said.

“Between March 2021 and February 2022, our client base increased by more than 40% year over year,” he added.

5-Jahreszeiten-Angelschlafsack Porsche Towson now accepts crypto

Porsche now accepts digital assets payments in the form of Bitcoin, Ethereum, Shiba Inu, and other cryptocurrencies.

On Twitter, Bitpay announced cooperation with Porsche Towson. Users may pay for a Porsche automobile using digital assets, thanks to Bitpay’s integration.

Porsche Towson is a Porsche dealership located in Twoson, Maryland. The store sells both new and used Porsche vehicles. BitPay was founded in 2011 with the goal of making bitcoin payments easier for companies. BitPay now has over 10,000 businesses that utilize it to make bitcoin transactions easier.

Companies like BitPay, which allow retailers and even real estate brokers to accept payments in numerous digital assets, are poised to pull business away from traditional banks.

According to Deloitte, firms may handle crypto payments without keeping bitcoin on their balance sheet by using an intermediary that converts back and forth between cryptocurrencies and fiat.

This helps to attract new clients in the near term, with the third party considering most of the risk and regulatory requirements.

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