South African fintech startup has partnered with BTS and Serti Solutions to facilitate cryptocurrency payments for vehicles at over 1,400 car dealerships.
Bridging the Gap Between Customers and Car Dealers
South African fintech startup 6DOT50 recently announced a partnership with BTS and Serti Solutions to enable cryptocurrency payments for vehicles. Customers can use eight cryptocurrencies, including bitcoin (BTC), to purchase new and pre-owned vehicles at more than 1,400 car dealerships.
In a statement, 6DOT50 said its platform will use its voucher system to eliminate risks associated with crypto by bridging the settlement gap between crypto and fiat currencies. 6DOT50 claims to have processed crypto transactions with an estimated value of $1 million at more than 90,000 stores.
With this latest solution, 6DOT50 joins South African supermarket giant Pick n Pay in allowing customers to make purchases with digital assets. In February 2023, a report in Bitcoin.com News revealed that Pick n Pay was accepting bitcoin as payment at more than 1,500 outlets across South Africa.
Explaining the rationale behind the establishment of the partnership, 6DOT50 founder Warren Venter said:
By creating a bridge between crypto users wanting to spend their value and dealerships wanting to be paid in local fiat currency, 6DOT50 vouchers provide the perfect solution. The process is quick and easy and removes all volatility acceptance risks as well as significant integration requirements. We are excited to unlock this payment alternative across such a comprehensive network of dealerships.
According to the statement, prospective customers can easily convert their cryptocurrency into 6DOT50 vouchers. They can then approve the voucher redemption through a link on the Seriti Solutions platform. The South African startup asserts that this streamlined process offers a convenient alternative to traditional payment methods, opening doors for dealerships to reach a wider customer base.
