SOURCE / INDUSTRIES
Hycan to become 1st Chinese auto firm to accept digital currency for car purchases: firm
Published: Dec 31, 2020 01:13 PM

Bitcoin Illustration: VCG


 Hycan, a brand launched by Chinese automobile manufacturers GAC Group and EV start-up NIO Inc, announced on Thursday that it will be the first auto firm in China to accept digital currency as a payment method for car purchases.

The firm previously said on its Weibo account that it will accept Bitcoin, but later clarified and said it will accept digital currency instead of Bitcoin.

While the Global Times found that both the two statements were now deleted as of press time.

The report also comes as China begins pushing for the launch of its official digital currency, which has been expected for months. Various digital currency tests in different regions of China have already started as the country develops more applications for the new monetary system.

Bitcoin continued to break new ground recently. On Wednesday, Bitcoin soared over US$28,500 in valuation. The all-time high means bitcoin has jumped by 46 percent since the start of December, according to a report from Yahoo.com.

Chinese authorities continue to crack down on cryptocurrencies, which have caused chaos among investors and destabilized financial markets

Global Times

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