The POMC (Post Oak Motor Cars), as well as NYDIG (a crypto custody company), recently declared a collaboration to permit the auto dealer of Houston to sell the vehicles thereof via the loans backed by Bitcoin (BTC). The collaboration with the company providing BTC-centered financial services will offer POMC’s consumers with an entree to a complete suite of Bitcoin services such as lending and custody.
Incorporating BTC into the business activities of the firm
Through this partnership, the POMC will have its consumers enabled to access the institutional grade of NYDIG, which counts as a 100% custody solution for cold storage, as per the announcement. The product doesn’t demand from the clients to pay any interest throughout the loan’s life. The press release elaborated that the consumers who do not want to trade their BTC can utilize a part of the value thereof via borrowing US dollars, utilizing BTC as collateral. Because of the full-stack platform of NYDIG, the collaboration will also permit POMC to utilize the BTC Treasury holdings for financing the further expansion, along with permitting the employees of the firm to allocate their paychecks’ specific portion for Bitcoin.
Also read:In an official tweet, NYDIG declared its target to carefully reveal Bitcoin’s ability. It further mentioned that the clients of the corporation would be able to purchase luxury vehicles having Bitcoin at the back-end as a financing method due to this collaboration. POMC, in the partnership, will leverage the platform of NYDIG to hold the Bitcoin treasury thereof and effectively finance the advancement of the footprint of POMC, as stated by the vehicle dealer. Moreover, the latest state-of-art location thereof has been disclosed by POMC, which is in The Woodlands. The initial BTC-financed venture of the firm will be TX.
Rolls Royce Ghost buys financed with BTC
The POMC’s General Manager, Lonny Soza, revealed that the firm feels delighted to have a partnership with NYDIG to facilitate its clients with the ability to fund a car through a loan backed by BTC. It was additionally declared in the press release that the selling of its earliest luxury car (financed through Bitcoin) has been carried out in advance by the firm. One among the clients of the firm purchased a Rolls Royce Ghost’s product which was financed with BTC out of NYDIG holdings.
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