£0 to £63,000 in 24 mins – AutoCoinCars announces payment partnership with Modulr

AutoCoinCars, the marketplace that allows dealerships to advertise their vehicles for sale to cryptocurrency users, has today announced a partnership with Modulr, the embedded payments platform.

The partnership will enable AutoCoinCars to accelerate the typical transaction time from an average of two days, to a matter of minutes.

Indeed, one of their most recent transactions, a world-first that saw them complete the first ever Bitcoin transaction for an Ariel Atom (worth £63,000 at the time) took place in just 24 minutes, as part of a rigorous stress-test of the systems.

This month (November) has also seen AutoCoinCars complete the UK’s first ever Bitcoin transaction for motorbikes, with a triple-deal for a Suzuki GSXR1000, a Ducati Panigale V4S and a Honda CBR1000RR Fireblade (worth just under £38,000) completing in similarly short order.

Luke Willmott, co-founder and COO of AutoCoinCars, which already has over 850 dealerships using its platform comments;

‘This is a major milestone moment for us in an incredibly fast-paced and fluid market. Our clients’ customers tend to focus on the performance and prestige market and we need to reflect that in terms of our own power, performance and speed of transaction. There is no better partner for this than Modulr and we are delighted to be working with them as we continue to drive our customer experience and delivery to the highest possible standards.

‘We completed the world’s first ever Bitcoin transaction for an Ariel Atom, the UK’s first motorbike transaction via Bitcoin and are proud pioneers in this market.

‘The dealerships we have on our platform are all leaders in their field in terms of their product offering and are also laser focused on customer service, as are we. There has often been criticism of cryptocurrency in that it is not tangible. However, we can now help people to unlock the potential of their portfolio by converting their Bitcoin into physical assets and we’re delighted to be leading the way with this.’