Recently, Volkswagen Singapore and FOMO Pay have collaborated, allowing payments for car purchases and after-sales services using $BTC, $ETH, $USDT, and $USDC.
However, the response to this has been somewhat polarized:
Some say this is a significant breakthrough for car manufacturers embracing crypto payments, a landmark case indicating that traditional capital is moving towards blockchain.
Others feel that the current limits are too strict, and the experience relies on third parties, viewing it more as a PR move with little practical significance in the short term.
Here are my thoughts:
1. In a place like Singapore, where 26% of people hold digital assets, there is indeed potential demand.
2. However, with a daily limit of 4500 SGD and a maximum of 13500 SGD, it can only be said that scaling is still a long way off.
3. The entire payment process relies on the FOMO Pay gateway, with compliance, security, and exchange rates all handled by third parties, meaning Volkswagen itself does not directly engage with on-chain assets.
Therefore, I believe this is a positive exploratory signal, especially in a market like Singapore where the adoption rate of digital assets is relatively high, leading to a naturally positive sentiment.
However, considering the limits and reliance on third parties, the short-term impact is limited, and it remains more of a forward-looking brand showcase. Whether this can become a trend will depend on actual user behavior and regulatory attitudes towards DPT.
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