SBI Motor Japan is one of the biggest used car eCommerce retailers in the world. The organization allows the people to list their used Japanese vehicles online and allow others to make purchases after talking to the sellers and checking the condition and credentials of the used car. This type of platform does not qualify as a luxury product like EV manufacturers Tesla, etc.
Recently, SBI Motor announced that its management is exploring the option of accepting cryptocurrencies as payment. The company operating out of Tokyo recently posted that the users will be able to make their used car payments in the form of Bitcoin and XRP tokens. To make the cryptocurrency payment possible, SBI Motor is partnering with SBI VC trade which is a crypto trading holding of SBI Group.
SBI Motor Japan Plans to Expand its Operations in Other Countries
SBI Motor Japan has shared its big plans for expansion in the African markets. According to the conglomerate with cryptocurrency payments, even the unbanked population of the world will be able to access company products. To this end, the company has already invested in Tanzania and opened a branch of SBI Motor.
The company officials have further clarified that the organization is finding new ways to promote cryptocurrency adoption. Because SBI Motor consumers are hailing from the middle and lower-middle classes, the decision can be seen as slow yet steady adoption of cryptocurrency payments among all levels of social strata.
Shiba Inu is the second most popular meme currency in the world. The meme coin attracted the attention of investors last year when the metrics cited a 5000% price appreciation for SHIB. At present, Etherscan tracked more than 405 million SHIB tokens getting sent to the burn address. Consequently, the total circulatory supply of SHIB tokens has depleted.
By doing so, the SHIB community is planning to use the forces of demand and supply to bring down the impact of massive SHIB selling pressure. Thus far, the community has burned a considerable amount of supply at irregular intervals. The biggest singular burn event recorded 1.12 billion SHIB sent to inferno wallet.