Danal, a South Korean company, will accept cryptocurrency as payment for BMWs.

Danal Fintech, a blockchain-based payment platform, launched a new service plan that would allow BMW automobiles to be purchased using Paycoin (PCI) in its new relationship with Samchully Motors, the luxury automotive line’s local dealer.

The new revelation marks the first time in South Korea that a car may be purchased entirely with bitcoin. Danal Fintech has acquired a supply of popular BMW sedan and sports vehicle models through Samchully Motors.

Danal Fintech CEO Hwang Yong-taek stated in a press release:

“To purchase a car with crypto means we can buy anything in the world with cryptocurrencies. In addition to expanding partnerships with various automakers beyond BMW, we will do our best to create an environment where everything can be purchased with Paycoin,”

Customers will be able to manage the whole purchase process using Danal Fintech’s PCI smartphone app, from signing the contract and paying for the car to receiving the vehicle.

Since the debut of Paycoin in 2019, Danal has been extending its crypto payment services. It has now negotiated agreements with major convenience shops, coffeehouse chains, and fast food restaurant chains in South Korea, including 7-Eleven, Burger King, and KFC, to allow consumers to pay using PCI tokens. Its PCI app just introduced a feature that allows users to purchase gift vouchers for the Google Play store, which can be used on millions of applications and mobile games.

Patrick

Coincu News