The manufacturer Soriano Motori partners with Coinbase for crypto payments
15. Dezember 2020
The Italian motorbike company Soriano Motori has announced support for crypto payment.
Customers can pay with Bitcoin, Ether, and Litecoin, among other „coins“.
A Soriano motorbike costs about 2 BTC at the current rate.
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The Italian motorbike company Soriano Motori Bitcoin Machine will accept payments in cryptos for its vehicles, becoming the first company in the sector to do so.
From airline tickets to real estate transactions, cryptos are increasingly being accepted as a means of payment by companies seeking to increase their revenue streams.
Italian manufacturer accepts Bitcoins and other crypto „coins“.
In a press release issued on 14 December, the manufacturer Soriano announced that it accepts cryptography as a means of payment for its motorbikes. According to the release, customers can use Bitcoin (BTC) as well as crypto coins such as Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), among others, in exchange for its vehicles.
This initiative is the result of a partnership with the giant crypto exchange Coinbase. Soriano’s e-commerce shop will be integrated into the American platform. As a general rule, merchants must associate themselves with cryptomonnaie-fiat gateways that will allow conversion between virtual currencies and fiduciary currencies.
Customers who will pay by crypto will pay the value of the motorbike at the market rate of their preferred cryptomoney at the time of purchase. According to Soriano, given Bitcoin’s current exchange rate, the company’s offers are worth just over 2 BTC (approximately $38,600).
The company said the reasons for adopting crypto payments are as follows:
All of our customers will be able to benefit from the great advantages offered by cryptomoney. Thanks to digital currencies such as Bitcoin, we can carry out international transactions without commissions or worrying about exchange rate fluctuations, among other things.
Soriano is now joining a league of luxury brands that are deciding to adopt crypto. Companies such as Virgin Galactic and Dutch yacht charter giant Boatsters Black also allow their customers to pay with Bitcoin.
In addition to high-end shops, cryptomoney is also making increasing inroads into the field of retail micro-transactions. Indeed, 2021 promises to bring even greater expansion in this respect. The American online payment giant PayPal is thus supporting cryptography for online purchases.
At the beginning of December, PayPal CEO Dan Schulman pointed out that the time had come to adopt crypto payments. Factors such as the coronavirus pandemic and emerging government policies appear to be supporting the transition to a cashless economy.