In Brief:
- Post Oak Motor Cars announced a partnership with NYDIG to integrate bitcoin into the business functions of the firm.
- Customers of POMC will have access to multiple Bitcoin services.
- POMC has already purchased its first luxury vehicle using Bitcoin.
Post Oak Motor Cars (POMC) announced a partnership with the leading bitcoin company NYDIG. The partnership enables the Houston-based auto dealer to sell vehicles using Bitcoin-backed loans.
The collaboration with the NYDIG will provide POMC’s customers with access to a full suite of Bitcoin products and services, along with custody and lending.
POMC to use NYDIG’s platform to hold its bitcoin treasury position and finance the footprint expansion of the company.
Chief Innovation Officer at NYDIG, Patrick Sells, stated “We are thrilled to work with POMC and grateful for their vision and dedication to bitcoin. This partnership marks an important milestone as we start to help Americans unlock the spending power of their bitcoin through borrowing USD against it without selling their long-term bitcoin holdings.”
This collab will also allow POMC to use its valuable Bitcoin cash holdings to fund further expansion, allow company employees to allocate a portion of their paychecks in Bitcoin via NYDIG’s full-stack platform.
POMC announced the sale of its first bitcoin-financed luxury vehicle, a Rolls Royce Ghost, which was financed with the customer’s bitcoin held at NYDIG.
“In today’s rapidly changing financial landscape, we are proud to partner with a company like NYDIG to offer customers the opportunity to finance a car with a Bitcoin-backed loan,” stated Lonny Soza, POMC’s General Manager.
Recently NYDIG acquired Bottlepay, a lightning network platform by paying in shares worth around $300 million.
