BitPay, a Bitcoin payment service provider, said that a Porsche dealer serving the Baltimore area in Maryland has begun accepting the dog-themed meme coins Dogecoin and Shiba Inu as payments for their vehicles.
BitBay announced the news on Twitter that Porsche Towson customers doing leasing, financing, trade-ins and other forms of car purchases now have the ability to buy luxury vehicles using cryptocurrencies, specifically, Dogecoin and Shiba Inu, in addition to Bitcoin and Ethereum. “Turn your #crypto into precious metal at Porsche Towson. Now accepting crypto as payment for vehicle purchases,” BitPay tweeted.
As an enterprise-grade crypto payment system, BitPay enables businesses to accept cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Shiba Inu and many others using a seamless application programming interface (API). Streamlining the process, the payment system allows merchants to use cryptocurrencies for one-time payments or recurring billing.
BitPay also features several tools that shield its users from price volatility since any amount a business charges for a product or service is paid out based on the value of the cryptocurrency at the time of purchase, less the transaction fee charged by the crypto payment platform.
Porsche Towson, which offers new, certified pre-owned and leasing options in Pennsylvania and Maryland, is not the first independent car dealership to accept cryptocurrencies as a form of payment. Bots Inc., a Puerto Rican tech company, has allowed local dealers to take Dogecoin as a form of payment for all Tesla vehicles since 2021.
American electric vehicle maker Tesla also started accepting Dogecoin as payment for its merchandise. CEO Elon Musk said that the company would accept DOGE as a form of payment for purchasing Tesla electric vehicles toward the end of the year.
While Musk has not said anything about adding Shiba Inu to its list of acceptable payments, a petition on Change.org has requested the tech billionaire to consider adding the meme coin. Over the past months, more businesses have opted to integrate cryptocurrencies into their list of acceptable payment methods.
Shiba Inu was trading up 2.18% at $0.0000245, with a 24-hour volume of $528,051,333, while Dogecoin was trading down 3.37% at $0.1366, with a 24-hour volume of $746,218,289 as of 9:51 p.m. ET on Thursday, based on the data from CoinMarketCap.
© Copyright IBTimes 2022. All rights reserved.