The largest independent tire retreader in Europe, Vaculug, now accepts cryptocurrencies in exchange for its goods and services. According to its management, the company must adapt to the times and provide customers with more options than pounds and pence.
Despite the recent decline in the value of cryptocurrencies, more companies are accepting cryptocurrency payments. The UK-based tire retreading company; Vaculug, announced that it would accept Bitcoin (BTC) and Ethereum (ETH), two of the most popular cryptocurrencies, as payment for tires and related services. The business asserts that it was the first in its industry to do so.
Vaculug stated in a press release that it would sign agreements in the formats of “crypto per kilometre” and “crypto per car” if customers want to fix or link their fixed pricing contracts to the prices of the two supported cryptocurrencies.
According to Jason Humphries, the IT manager at Vaculug, blockchain is not the future but the now. He added, “We believe that all companies will have to accept cryptocurrencies in the near future, and we are proud to be the first retreader to do so.”
The company, which Humphries described as customer-centric, needs to adapt to the circumstances and give customers more options than just pounds and pence. He also says that crypto payments will provide buyers more value while lowering the cost of transactions for both parties.
The CEO of Dunross and Chan Ltd., the company that will handle the cryptocurrency transactions, said, “We are proud to have partnered with Vaculug to develop the modules required for their industry-leading VMS management system to be able to receive secure payments through the blockchain.” He went on to say that the platform’s security was ensured through collaboration with Israeli cybersecurity firms.
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