Honda Motor Co., a well-known Japanese automotive manufacturer, has recently updated its payment infrastructure to include a variety of cryptocurrencies. This development is a result of a strategic partnership with FCF Pay, a leading blockchain payment system. The collaboration provides an alternative to traditional fiat currencies, allowing customers to lease or purchase Honda products using digital assets.
The list of accepted cryptocurrencies is extensive, featuring not only major players like Bitcoin (BTC) and Ethereum (ETH) but also various meme coins such as Shiba Inu and Ripple’s XRP. Additionally, Honda has included more exotic meme coins like Pepe Coin (PEPE), Floki Inu (FLOKI), Bone ShibaSwap (BONE), and Doge Killer (LEASH) in its payment options. In total, the blockchain payment system supports a total of 46 different cryptocurrencies for transactions with Honda.
The news has also caught the attention of notable figures in the crypto space. Justin Sun, a prominent cryptocurrency entrepreneur, wrote:
Honda’s now accepting Bitcoin and Ethereum? Guess it’s time to consider a Civic over a Cybertruck! 😂
— H.E. Justin Sun 孙宇晨 (@justinsuntron) October 3, 2023
🚗👇https://t.co/zljiXSFvr3
This move is in line with Japan’s broader focus on Web3 innovation. The country’s ruling Liberal Democratic Party has released a white paper containing suggestions for expanding the crypto industry, including tax exemptions and regulatory proposals for nonfungible tokens and decentralized autonomous organizations.
Previously, Honda had also made news in the NFT space. During the FORMULA 1 Honda & Red Bull welcome event in Tokyo, the company announced a limited edition NFT distributed to fans who participated in a ticket lottery for the event. This NFT initiative was in collaboration with Animoca Brands Japan, further showcasing Honda’s commitment to embracing Web3 technologies.
Honda is not the lone automotive company in Japan to venture into cryptocurrency acceptance. SBI Motor had previously integrated Bitcoin into its payment options, and global electric vehicle manufacturer Tesla also made headlines with its acceptance of Bitcoin and Dogecoin. Moreover, Nissan has been experimenting with metaverse auto sales for its various brands, signaling a growing trend of digital currency adoption in the automotive sector.
