Leading U.K. Retreader Company Vaculug to Accept Bitcoin and Ethereum for Payments

Vaculug to Accept Bitcoin and Ethereum as payments.

Vaculug, an independent tire retreader company based in the United Kingdom, announced that it’s now accepting cryptocurrencies for payment of its goods and services, making it the first-ever retreader in the world to add Bitcoin (BTC) and Ethereum (ETH) support as part of its payment plan. 

Vaculug to Accept Crypto Payments

According to the announcement, customers can purchase its various ranges of rebranded tires and other related merchandise with the accepted virtual currencies. 

“Blockchain technology is not the future but the NOW. We believe that all companies will have to accept Cryptocurrencies in the near future, and we are proud to be the first retreader to do so.” said Jason Humphries, IT Manager at Vaculuges 

Launched in 1950 by Mr. L.W.R. Morley and his associate Mr. F. Widdowson just after the second world war, the company offers a wide range of tires in the industry for vehicles such as cars, trucks, tractors, and earthmovers specifically designed to suit their vehicle fleets. 

In addition to accepting crypto payments, the company noted that it would sign its PPK fixed price contracts in CPK ( Crypto Per Kilometer) and CPV (Crypto Per Vehicle) formats if customers wish to connect their contracts to the price of BTC and ETH. 

Vaculug Secures Partnership With Dunross and Chan Limited

Vaculug also signed a partnership with Dunross and Chan Limited to facilitate crypto payments by developing innovative blockchain payment software. 

Speaking on the new development, Sam Dunross, the CEO of the Hong Kong-based company, noted that the new technology was built with the help of Israeli cyber security firms to facilitate secure payments. 

“We are proud to have partnered with Vaculug to develop the modules required for their industry-leading VMS management system to be able to receive secure payments through the blockchain,” he said.