The South Africa-based fintech startup 6DOT50 has enabled cryptocurrency payments for vehicle purchases. ,
Customers can now buy new or used cars from nearly 1,500 dealerships using Bitcoin and seven other cryptocurrencies.
In its statement, 6DOT50 explained that its platform utilizes a voucher system, which helps minimize the risks associated with cryptocurrency transactions. This approach reduces crypto-related risks while also bridging the gap between digital assets and traditional currencies. The company also reported processing approximately $1 million worth of crypto transactions across more than 90,000 retail locations.
With this service, 6DOT50 has become part of the growing digital asset payment trend in South Africa. Previously, Pick n Pay had also begun accepting Bitcoin payments in over 1,500 stores across the country.
Commenting on the company’s latest move, 6DOT50 founder Warren Venter stated:
“By establishing a link between cryptocurrency holders looking to spend their assets and dealerships requiring payments in local fiat currency, 6DOT50 vouchers offer an ideal solution,”
“The process is swift and straightforward, eliminating volatility risks and minimizing complex integration requirements. We are thrilled to introduce this payment alternative across an extensive network of dealerships.”