Volkswagen Group Singapore (VGS) has partnered with Singapore-based payment provider FOMO Pay to allow customers to make payments using digital currencies. The new service covers vehicle purchases and aftersales services, with accepted options including Bitcoin, Ethereum, and stablecoins such as USDT and USDC. As the authorised distributor for Volkswagen, Škoda, and CUPRA, VGS said the move reflects the growing use of digital currencies in Singapore. Recent surveys show that more than a quarter of residents in the country hold digital assets. The option is aimed at providing faster settlement, lower transaction costs, and wider interoperability compared to traditional payment methods. Transactions made with digital payment tokens will be processed through FOMO Pay’s system, which provides real-time exchange rates and compliance checks. Payments are currently subject to a daily limit of SGD 4 500 per customer, with a maximum of SGD 13 500 under regulatory guidelines. The collaboration also aligns with Singapore’s broader efforts to expand its digital economy and build infrastructure that supports new forms of commerce. VGS stated that the introduction of digital currency payments is intended to improve convenience while keeping payment processes secure and transparent. Image: Freepik