Honda Races To Grab Consumers With Crypto Payment Expansion

Looking to offer new opportunities for consumers across the world, Honda Motor Co Ltd. HMC expanded its payment options. Honda now has a list of around 46 cryptocurrencies that could be accepted for payment.

What Happened: Tokyo-based car company, Honda Motor partnered with the blockchain payment system, FCF Pay, making it possible to buy Honda products in a variety of cryptos, including Ripple XRP/USD and Dogecoin DOGE/USD. Other accepted currencies include Bitcoin BTC/USD, Ethereum ETH/USD, Binance Coin BNB/USD, XRP XRP/USD, Dogecoin DOGE/USD, Shiba Inu SHIB/USD and many more.

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Full list of currencies you can pay your vehicle bill with through the FCF Pay bills feature. pic.twitter.com/jAqb55a8xR

— FCF PAY - Blockchain Payment System (@fcfpay) September 27, 2023

Recently, Japan’s ruling Liberal Democratic Party’s Web3 project team released a white paper featuring proposals aimed at expanding the country’s Web3 industry. The country is also seeing a rise in crypto funding for startups.

Read Next: Can Japan's Economy Continue To Blossom If Bank of Japan Raises Rates? Apparently So.

Similar Moves: At the Formula One Honda & Red Bull welcome event in Tokyo, Honda unveiled a new limited edition NFT in Japan in association with Animoca Brans in Japan. Animoca Brands Japan was formed to support the global Web3 strategies of Japanese intellectual property and content owners.

The car manufacturer distributed Honda Key NFTs to all the fans who entered the Formula One Honda & Red Bull ticket lottery in September. The attendees of the event will also receive a commemorative NFT, which was distributed to ticket holders after the event.

Nissan Motor Co Ltd NSANY, the Japanese automaker, made a foray into the Web3 space by filing four U.S. trademarks. Its Japanese unit tested with metaverse auto sales for brands such as Infiniti, Nismo and Nissan.

SBI Motor earlier embraced cryptocurrencies such as Bitcoin as a mode of payment and Tesla already accepted Dogecoin for purchases.

Photo: Shutterstock