Houston-Based Luxury Auto Dealer To Integrate Bitcoin Services
Post Oak Motor Cars will be able to finance car sales through NYDIG’s suite of Bitcoin services, including BTC-backed loans.
- Houston residents can now purchase luxury automobiles through natively integrated bitcoin-backed loans.
- Post Oak Motor Cars announced a partnership with NYDIG to give customers access to a fully-fledged suite of Bitcoin services, including custody and lending.
- POMC employees will also be able to allocate a portion of their paychecks to BTC.
A Houston-based luxury auto dealer will soon be able to accept bitcoin for its services, according to a release sent to Bitcoin Magazine. Post Oak Motor Cars have announced a new partnership with NYDIG, a bitcoin-focused financial services firm, integrating Bitcoin into its business operations.
The collaboration will allow POMC customers to purchase luxury vehicles financed through BTC-backed loans and enable employees to allocate a portion of their paychecks to bitcoin.
“We are proud to partner with a firm like NYDIG to offer our customers the ability to finance a car with a loan secured by bitcoin and to offer our employees the opportunity to allocate a portion of their paychecks to bitcoin,” said Lonny Soza, general manager of POMC. “NYDIG has a vision to make bitcoin more accessible, and our industry-leading partnership will propel that vision into reality and give our key stakeholders the opportunity to have exposure to sound digital money in bitcoin.”
POMC also announced that it had sold its first luxury automobile financed with bitcoin, a Rolls Royce Ghost. The purchaser financed the car with BTC held at NYDIG.
The luxury car dealer will leverage NYDIG’s platform to hold bitcoin in its treasury and finance an expansion of POMC’s footprint. The company shared that its first bitcoin-financed venture will be a new dealership in The Woodlands, Texas.
“This partnership marks an important milestone as we start to help Americans unlock the spending power of their bitcoin through borrowing USD against it without selling their long-term bitcoin holdings,” said Patrick Sells, chief innovation officer at NYDIG, per the release.
