Various institutions and entities are approaching towards accepting payment in crypto; seeking the adoption and mainstream acceptance
An announcement was made on Tuesday that an Exclusive Porsche center of Baltimore, a city of Maryland, Porsche Towson, has recently partnered with crypto payment processor platform BitPay to make efforts towards accepting digital assets payments. For now, the Porsche dealership works to offer both new Porsche cars and selling used ones.
As per the announcement, Porsche Towson will now be accepting payments in crypto; for now, it will support Shiba Inu and Dogecoin for crypto payments. Both are the two most popular and major meme coins that are on top of many conventional cryptocurrencies where Bitcoin and Ethereum-like digital assets are placed.
According to the stats showing the processing of BitPay till the last march were about 76,583 payments in total. In more than half of the company’s total transactions, bitcoin accounted for about more than a half, according to the January report.
The relation of Porsche with cryptocurrencies, specifically with bitcoin, is not new. Way back in 2013, a family resident of Austin made news when they sold their Porsche Cayman S 2007 model for about 300 Bitcoins (that is worth about $12.4 million for now). Since the time then, various car dealerships all around the world have stepped towards the cryptocurrencies acceptance as payments.
Earlier this month itself, one of the top retailers in the world of exotic and rare cars, Dutton Garage, started accepting about 30 cryptocurrencies while partnering with Australia based crypto exchange CoinSpot.
Last year itself, automobile manufacturer Porsche joined the ongoing frenzy of non fungible tokens and launched a particular NFTs trading platform, Fanzone. It also became the first automaker in 2018 to start testing the emerging blockchain technology according to its pilot project plan with a startup based in Berlin, XAIN.
Source: https://www.thecoinrepublic.com/2022/04/20/now-porsche-dealer-will-accept-crypto-payments-approaching-shiba-inu-and-dogecoin/