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- Gate July 2025 Transparency Report:
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Crypto Payments Reach Volkswagen Singapore With Fomo Pay Tie-Up
Now in 2025, no industry is untouched by digital asset payment in every sector. There are a few companies to accept crypto as a mode of payment, and from the automobile sector now Volkswagen Group Singapore has now joined other players such as Tesla, Ferrariand Nissan Motor with others
As per the press release dated August 14, 2025, Volkswagen Group Singapore has joined hands with Fomo Pay to enable its customers to avail its vehicles and services using cryptocurrencies
With this development, the customers can now also pay in Bitcoin, Ethereum, USDC, and USDT, among others, to Volkswagen Group Singapore for products including vehicles and services
The move by VGS is praised by crypto moguls, terming it a more widening approach of the company in accepting different payment modes. As per a different data set, Singapore is among the regions with the highest crypto adoptions, and one in four residents now owns cryptos
Following the integration the Managing Director of Volkswagen Group Singapore, Dr Jurt Leitner said, “ An increasing number of consumers today are digital natives. They expect speed and convenience across all touchpoints, including how they pay,” he added “ Our partnership with FOMO Pay aligns with our broader vision of delivering premium experiences powered by technology and innovation.”
Automobile companies are integrating crypto to boost their sale
In the last few years, dozens of automobile companies worldwide have also integrated crypto payment, as crypto usage and popularity have been growing worldwide. And the younger generation has been leading the charge, primarily to target the savvy generation. The automobile company has begun accepting payments in crypto, including Bitcoin, Ethereum, USDC, USDT, and Dogecoin, among others
Popular brands such as Tesla, BMW, Mercedes-Benz, Ferrari U.S, and Honda have already accepted crypto payment, but Tesla accepts payment in Dogecoin, and the company holds a significant number of Bitcoins
It is worth noting that these companies do not accept crypto payments in all their subsidiaries, as there are still some nations that have harsh regulations and huge taxes on digital assets and do not consider them as a mode of payment
Integrating crypto is helping automobile companies to boost their sales among Generation Z millennials and also to improve their balance sheets, as there are dozens of companies that have been staking their holdings and earning appreciable yield
Not only is accepting crypto as a mode of payment becoming prominent among automobile companies, but some of them have also started to explore the potential of blockchain technology in order to streamline their supply and stock management
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