1,400 South African Delearships Now Accepts Cryptocurrency Payments

South African fintech startup 6DOT50 partners with BTS and Serti Solutions to enable cryptocurrency payments at over 1,400 car dealerships, simplifying transactions for crypto users and dealerships.

Cryptocurrency Payments Expand to South African Car Dealerships

South African fintech company 6DOT50 has partnered with BTS and Serti Solutions to enable cryptocurrency payments for vehicles at more than 1,400 car dealerships across the country. Customers can now use eight cryptocurrencies, including bitcoin (BTC), to purchase both new and pre-owned vehicles.

Simplifying Crypto Transactions for Car Buyers

The innovative solution leverages 6DOT50’s voucher system to address risks tied to crypto transactions, such as volatility and settlement gaps. Customers can seamlessly convert cryptocurrency into 6DOT50 vouchers, which dealerships can redeem in local fiat currency through the Serti Solutions platform.

According to the startup, this approach eliminates integration challenges and ensures dealers receive payments securely and efficiently. The system also reflects 6DOT50’s growing footprint in cryptocurrency-based payments, having processed transactions worth $1 million across 90,000 retail stores.

A Growing Trend in South Africa

This announcement follows similar strides made by South African supermarket chain Pick n Pay, which started accepting bitcoin at over 1,500 outlets in February 2023. The move further establishes South Africa as a growing hub for cryptocurrency adoption.

6DOT50 founder Warren Venter emphasized the partnership’s role in bridging gaps:

“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.”