Volkswagen Group Singapore announced on August 14 a new collaboration with FOMO Pay, allowing its customers to use digital currencies when purchasing cars or benefiting from various services.
The new payment system includes currencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), reflecting the company's openness to modern financial means and digital technology.
Volkswagen aims through this initiative to enhance innovation in the local market and meet the demands of customers who prefer digital payment solutions, in line with the standards of the Monetary Authority of Singapore (MAS).
The company confirmed that integrating digital currencies into its payment systems aims to provide customers with greater flexibility and speed in completing their transactions, while maintaining high levels of security and transparency.
It also clarified that there are regulatory controls in place, with a daily transaction limit of 4,500 Singapore dollars, while the cumulative ceiling reaches 13,500 Singapore dollars, enhancing compliance with local laws.
This step is part of Volkswagen Singapore's strategy to keep pace with the digital transformation in the automotive sector, where cryptocurrencies have become a practical option in the field of payments.
The partnership with FOMO Pay is an important milestone in integrating digital assets into everyday financial systems, contributing to expanding their use and providing customers with more diverse payment options.
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