On April 19, Porsche Towson announced that it now accepts the widely popular meme-based cryptocurrency Shiba Inu ($SHIB) as payment. Porsche Towson is a Porsche dealer in Towson, Maryland, that offers both new and used Porsche vehicles.
BitPay, a cryptocurrency payment processor, reported on Twitter earlier today that Porsche Towson is now “accepting crypto as payment for car sales.”
Tony Gallippi and Stephen Pair launched BitPay, which is located in Atlanta, Georgia, in May 2011. The objective was to “make it easier for companies to accept bitcoin payments,” and by September 2013, BitPay had helped over 10,000 retailers accept Bitcoin (BTC). Currently, the firm claims to be “the world’s biggest bitcoin payment processor, servicing companies across six continents.” Index Ventures, Founders Fund, and Felicis Ventures are among its investors.
BitPay said in a blog post on December 8, 2021, that $SHIB supporters will be able to “purchase, store, exchange, and spend using this Ethereum ERC-20 token straight in the BitPay app.”
According to BtPay, the BitPay Card can be “used everywhere MasterCard is accepted,” and the key difference between it and a standard debit card is that its debit card may be loaded using any of a huge number of crypto wallets.
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