Popular Porsche dealer, Porsche Towson has announced that it will be partnering with a crypto payment processor BitPay to start accepting payments in Shiba Inu (SHIB) and other cryptocurrencies on the payment processor.

This development was announced on BitPay’s official Twitter account a few hours ago.

BitPAy tweeted, “Turn your crypto into precious metal at Porsche Towson. Now accepting Crypto as payment for vehicle purchases.”

This means that Shiba Inu (SHIB) will now be added to the other cryptocurrencies, including Bitcoin (BTC), Dogecoin (DOGE), and some others that are now accepted by the Porsche dealer who deals in both new and used Porsche cars. 

This is a huge development for Shiba Inu because of the yearly volume of transactions on the BitPay gateway. Last March, BitPay processed a total of 76,583 payments. And as of January, Bitcoin accounted for over 50% of the company’s total transactions. 

Porsche In The Space

In 2013, a family in Austin was in the news after selling their 2007 Porsche Cayman S for 300 Bitcoins ($12.4 million at the time of writing). Since then, various car dealers worldwide have shown more tolerance toward digital currencies.

One of the world’s top retailers of luxury cars, Dutton Garage, started accepting 30 cryptocurrencies for payments after partnering with the Australian exchange, CoinSpot. 

Last year, Porsche entered the non-fungible token trend after launching Fanzone, a platform for NFTs trading.

It also became the first automaker in 2018 to start testing the blockchain technology as part of its pilot project with Berlin-based start-up XAIN.