Following an agreement between the largest crypto payment service BitPay, Mecum auctions, one of the world’s biggest collector car auction companies, announced that it is now accepting digital tokens as a form of payment.
With the decision to jump on the crypto bandwagon, the company expects to reach new customers and increase its sales by opening its doors to the global crypto market. According to the statement, all the registered members of the live auctions will be given the option to pay in either fiat or cryptocurrency.
Besides that, the company’s online customers are likely to benefit from the move as they will have the opportunity to access an end-to-end digital experience. Sam Murtaugh, the head of autocar auction company, said,
We recognize the growing acceptance of cryptocurrency for commerce and are confident that by accepting crypto for collector cars, it will widen our scope of influence and introduce the Mecum Experience to an entirely new audience. BitPay provides a powerful, streamlined process that makes crypto transactions simple for both our customers and our accounting team.
Its agreement with BitPay allows it to safely accept a list of famous crypto tokens, including Dai, Ether, BTC, Dogecoin, and others. In response to Mecum’s decision, the top official of BitPay, Stephen Pair, said that the auction firm realizes the potential of the growing crypto market and repeated his companies’ goal to make digital payments an easy and seamless process.
Interestingly, the announcement comes days ahead of Mecum’s thirty-fourth annual classic car auction in Indiana, where reportedly more than 2,500 collector cars would be featured. The company says it’s ready to start accepting digital tokens.