Honda Crypto Payment Option Only Available Through Third-Party Platform
Portfolio Pulse from Khyathi Dalal
Honda Motor Co Ltd (NYSE:HMC) has expanded its payment options to include 46 cryptocurrencies, but only through the third-party platform, FCF Pay. Honda itself does not accept cryptocurrency payments directly. FCF Pay, which made the system live in September 2023, is currently available in the U.S. and is seeking additional partners for crypto-to-fiat bill settlement in Mexico, Latin America, Africa, and Asia. Other car manufacturers, including Mercedes, BMW, Ford, Nissan, and Mitsubishi, also use crypto to buy cars.
October 16, 2023 | 6:00 pm
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Honda has expanded its payment options to include cryptocurrencies, but only through a third-party platform, not directly. This could potentially attract a new customer base interested in using cryptocurrencies for purchases.
While Honda's move to accept cryptocurrencies could potentially attract a new customer base, the fact that it is only through a third-party platform and not directly may limit its impact. The overall effect on Honda's stock is uncertain in the short term.
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