Volkswagen Group Singapore (VGS) has teamed up with major payment provider FOMO Pay to roll out cryptocurrency payment options for vehicle purchases and related services. Customers can now use Bitcoin (BTC), Ethereum (ETH), and popular stablecoins like USDT and USDC to pay for Volkswagen, Škoda, and CUPRA vehicles or aftersales services.
This strategic move marks a major leap in the digital transformation of Singapore’s automotive retail space, offering more flexibility and convenience to today’s tech-savvy car buyers.
Digital Currencies Are Changing How Singapore Buys Cars
With 26% of Singapore’s population owning digital assets, VGS is tapping into a rapidly growing market by allowing crypto payments at its dealerships. This new payment option reflects the company’s focus on future-ready mobility solutions and its mission to enhance customer experiences across all touchpoints.
Under current regulations, crypto payments are subject to daily limits of SGD 4,500 and a monthly cap of SGD 13,500. These limits ensure that transactions remain secure and compliant with Singapore’s digital payment standards.
Customers can use cryptocurrencies to pay partially for vehicle purchases, or for aftersales services like maintenance and accessories—offering them a faster, more cost-effective way to manage their automotive needs.
Secure and Seamless Payments Powered by FOMO Pay
FOMO Pay, one of Singapore’s leading licensed payment institutions, provides the infrastructure behind the crypto transactions. Their platform ensures that all payments are processed with real-time exchange rates, top-tier security, and full regulatory compliance.
This collaboration between VGS and FOMO Pay is not only a game-changer for car buyers but also a step forward for Singapore’s digital finance ecosystem. It shows how traditional industries like automotive retail can adapt to emerging technologies and offer globally interoperable payment options that meet evolving consumer preferences.
By integrating cryptocurrency payments into the car buying journey, Volkswagen Group Singapore is leading the way in creating a modern, seamless, and secure customer experience.
