A Houston now offering Bitcoin-backed financing for the purchase of premium vehicles

Additionally, the business said that it has actually sold its first premium vehicle, a Rolls Royce Ghost, using Bitcoin financing.

Post Oak Motor Cars (POMC) and cryptocurrency custody service NYDIG recently announced a collaboration that would allow the Houston-based car dealer to offer automobiles financed using Bitcoin.

POMC’s clients will now have access to a complete range of Bitcoin (BTC) services, including custody and lending, as a result of the agreement with the Bitcoin-focused financial services organization.

Integrating Bitcoin into a business’s day-to-day activities

“Through this agreement, POMC will be able to provide clients with access to NYDIG’s institutional-grade, 100% cold storage custody solution,” the release said.

“The product does not require clients to pay interest throughout the loan’s term,” according to the news release, which stated that customers who do not willing to sell their Bitcoin may access a part of its value by borrowing USD and using Bitcoin as collateral.

The collaboration will also enable POMC to leverage its appreciated Bitcoin treasury holdings to fund future development, as well as allow workers to dedicate a portion of their wages to Bitcoin.

“POMC will use NYDIG’s platform to keep its valued Bitcoin treasury position and fund an expansion of POMC’s presence effectively,” the Houston-based car dealer stated.

At NYDIG, we're on a mission to safely unlock the power of Bitcoin. Our partnership with Post Oak Motor Cars will bring a unique opportunity for customers to buy luxury vehicles financed by Bitcoin and allow employees to auto-convert payroll to Bitcoin. https://t.co/pIsHmsBZlj pic.twitter.com/MjclSwZbq9

— NYDIG (@NYDIG_BTC) October 28, 2021

Additionally, POMC announced that its new cutting-edge site in The Woodlands, TX would be the company’s first Bitcoin-financed endeavor.

“In today’s fast-changing financial world, we are happy to join with a company like NYDIG to provide our consumers the option of financing a vehicle with a Bitcoin loan,” stated Lonny Soza, POMC’s General Manager.

Additionally, the news statement said that POMC had already sold its first luxury vehicle funded using Bitcoin. A POMC client purchased a Rolls Royce Ghost using Bitcoin kept at NYDIG.

“This cooperation is significant because it enables Americans to leverage their Bitcoin’s purchasing power by borrowing USD against it without surrendering their long-term Bitcoin holdings,” said Patrick Sells, Chief Innovation Officer of NYDIG.

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