Volkswagen Singapore Now Accepts Crypto for Vehicle Payments

Volkswagen Group Singapore (VGS) has announced a partnership with FOMO Pay, a major Singapore-based payment institution, to enable digital asset payments for its vehicles and services. Customers can now pay using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT and USDC.

VGS, the authorized distributor for Volkswagen, Skoda, and CUPRA, has introduced this solution to provide consumers with more flexible payment options aligned with new technological trends. The initiative comes amid growing cryptocurrency adoption in Singapore, where approximately 26% of residents own digital assets.

Through FOMO Pay’s infrastructure, transactions are processed securely with real-time exchange rates and full regulatory compliance. Payments can be made for partial purchases of new vehicles and after-sales services, with a daily cap of SGD 4,500 and a total limit of SGD 13,500 for multiple transactions.

VGS representatives stated that integrating cryptocurrency payments is part of the company’s strategy to enhance customer experience and align with Singapore’s goal of becoming a global digital hub.