Home Business Europe’s Leading Tire Retreader Vaculug Will Accept Crypto Payments – Bitcoin News

Europe’s Leading Tire Retreader Vaculug Will Accept Crypto Payments – Bitcoin News

Europe’s Leading Tire Retreader Vaculug Will Accept Crypto Payments – Bitcoin News

Vaculug, a British company that bills itself as Europe’s largest independent tire retreader, will now accept cryptocurrency for its products and services. Its management says the business needs to move with the times and offer customers more options than pounds and pence.

Vaculug will take major coins and offer cryptocurrency contracts

UK tire retreading company Vaculug has announced that it will accept two major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) as payment for tires and related services. The company says it is the first in the industry to do so.

In a Press releaseVaculug also revealed plans to sign fixed-price contracts in “crypto per kilometer” and “crypto per vehicle” formats, should customers wish to fix or tie them to the prices of the two supported cryptocurrencies.

Blockchain is not the future but the present, says Vaculug IT manager Jason Humphries. “We believe that all businesses will have to accept cryptocurrencies in the near future and we are proud to be the first retreader to do so,” he commented.

Humphries believes the business, which he describes as customer-centric, needs to move with the times and offer customers “more options than just pounds and pence”. He also insists that crypto payments will reduce transaction costs for both parties while providing more value to the buyer.

“We are proud to have partnered with Vaculug to develop the necessary modules for their industry-leading VMS management system to be able to receive secure payments via blockchain,” said Sam Dunross, CEO of Dunross and Chan Ltd., who will process the crypto transactions. He added that his platform was developed with Israeli cybersecurity firms to ensure his safety.

Despite the latest crypto market downturn, the number of companies presentation bitcoin payments continued to grow. For example, Swiss luxury watchmaker TAG Heuer announcement earlier this year that it accepted a dozen coins in the US through an integration with Bitpay. And a survey by financial services firm Deloitte and payment processor Paypal show that 85% of merchants consider enabling this payment method a high priority.

Keywords in this story

Bitcoin, BTC, Crypto, crypto payments, Cryptocurrencies, Cryptocurrency, Cryptocurrency payments, ETH, ether, Ethereum, Europe, Payments, retreader, tire, tire retreader, tires, UK, Vaculug

Do you expect increased adoption of crypto payments after this month’s relatively positive developments in major coin markets like bitcoin and ether? Tell us in the comments section.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who loves Hitchens’ quote: “Being a writer is who I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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