Singaporean Luxury Car Dealer EuroSports Global Accepts Crypto Payments.
A leading luxury car dealer, EuroSports Global now accepts cryptocurrencies as payment for automobiles, an announcement on Monday 18 April said. Headquartered in Singapore, Eurosport Global deals in top automobile brands like Lamborghini, Alfa Romeo, and the Touring Superleggera brand.
According to the announcement, accepting cryptocurrency payments is an attempt to “address the growing demand for flexible and easy-to-use cryptocurrency payments”.
More importantly, it said that enabling crypto payments will make transactions easier and cheaper across borders. Fomo Pay is in charge of facilitating the crypto payments for the luxury car dealer that is ready to accept Bitcoin, Ethereum, USDT, and USDC.
More merchants accept crypto
Cryptocurrencies are not regulated by any central government, but their popularity seems to be growing every day. A rising number of merchants in all sectors and industries are now showing interest in accepting cryptocurrencies for their goods and services. For example, like EuroSports Global, several luxury car dealers are now accepting cryptocurrencies as payment for merchandise.
To the crypto community, this indicates that many merchants are coming to the realization that cryptocurrencies are a better option for payment than fiat currencies. Like EuroSport Global, their primary goal is to make payment easier, provide more options to their customers, and reduce the cost of transactions and how long it takes to process payments.
Other luxury car makers and dealers like Tesla in the United States and Dutton Garage in Australia both accept cryptocurrencies as payment options.
Increasing crypto utility
Any cryptocurrency is just as valuable as the number of people using it. As long as merchants continue to accept cryptocurrencies for payments, the value of such cryptos will appreciate over time.
Such adoptions, therefore, present a wonderful opportunity for the industry to grow and become more valuable to the general public. A key goal of cryptocurrencies is to attain mainstream adoption and merchants accepting them will significantly improve the chances of succeeding in a short time.