Volkswagen Group Singapore (VGS) announced a partnership with payment institution FOMO Pay to accept digital currency payments for vehicles and related services. According to the agreement, customers can use Bitcoin, Ethereum, as well as stablecoins like USDT and USDC for payments.
This payment service will be applied to partial payments for new cars and after-sales services, with a daily transaction limit of 4,500 SGD and a maximum limit of 13,500 SGD. FOMO Pay will provide the payment infrastructure to ensure transaction compliance and offer real-time exchange rate services.
Volkswagen Group Singapore Partners With FOMO Pay To Introduce Digital Currency Payment Services
Volkswagen Group Singapore announced a collaboration with FOMO Pay, on August 14, to introduce digital currency payments for vehicles and services, accepting BTC, ETH, USDT, and USDC.
The initiative addresses digital-first customer expectations, offering a secure, MAS-compliant payment channel. Each customer transaction is subject to a SGD 4,500 daily limit, with SGD 13,500 as a cumulative cap.
Volkswagen Group Singapore customers can now pay for vehicles and aftersales services using major digital currencies, including stablecoins such as USDC and USDT, powered by FOMO Pay’s (@FOMOPayOfficial) enterprise-grade infrastructure.
Market reactions have been muted so far, with no significant shifts in cryptocurrencies’ on-chain data. However, it highlights the growing acceptance of digital currencies in regulated environments like Singapore.
Stablecoin Inclusion: First Among Major Automakers in a Regulated Market
The inclusion of stablecoins such as USDT and USDC in Volkswagen’s recent payment system is among the first instances of a large automotive player doing so under MAS-regulated frameworks.
Last month, it was reported that Gulf Craft now accepts regulated crypto payments for yacht and leisure craft purchases, service and refit works. The company is also working with Bahrain licensed fintech provider ARP Pay, to convert stablecoins such as USDT and USDC into AED or USD currency.
Volkswagen Group Singapore Elevates Customer Experience With Digital Currency Payments
The move by VGS is in response to the growing adoption of digital currencies among consumers in Singapore, with recent data showing that 26% of residents now own digital assets.
As consumers increasingly seek faster and more cost-effective payment methods, digital currencies are gaining traction not only for their speed and enhanced security, but also global interoperability and lower transaction costs.
Integrating DPT payments enhances the customer journey — by providing choice, speed, and a modern experience — in line with VGS positioning as a forward-thinking group ready for the next generation of mobility and commerce. DPT transactions per customer are subject to a daily cap of SGD 4,500, with a maximum of SGD 13,500 based on smurfing limits.
“An increasing number of consumers today are digital natives. They expect speed and convenience across all touchpoints, including how they pay,” said Dr. Kurt Leitner, Managing Director of Volkswagen Group Singapore. “Our partnership with FOMO Pay aligns with our broader vision of delivering premium experiences powered by technology and innovation.”
FOMO Pay Fuels Digital Currency Payment Acceptance
With FOMO Pay’s digital asset payment infrastructure, VGS now supports digital currency payments for partial payments on new vehicle purchases, as well as aftersales services. All transactions are processed securely through FOMO Pay’s enterprise-grade gateway, ensuring compliance, transparency, and real-time exchange rates at the point of payment.
“FOMO Pay is excited to partner Volkswagen Group Singapore in elevating their consumer payment experience,” said Rose Wang, Head of Digital Payments at FOMO Pay. “As Singapore advances toward becoming a smart financial center, we believe digital assets will continue to play an important role in improving customer experience.
At FOMO Pay, we remain committed to delivering a full suite of payment solutions, from digital currencies to fiat, and from online channels to offline channels. These payment solutions aim to empower businesses and enhance customer experiences.”
Accelerating Towards A Smart Nation Together
In the spirit of SG60, the partnership between VGS and FOMO Pay embodies the country’s sustained progress in economic growth and technological advancement. Both VGS and FOMO Pay share a strong alignment with Singapore’s vision of becoming a leading digital economy, where innovation enhances everyday life.
By enabling digital currency payments, VGS not only modernizes its payment infrastructure but also signals a deeper commitment to offering greater flexibility and inclusivity for consumers.
This is made possible through FOMO Pay’s robust digital payment infrastructure, which underpins the shift toward a more seamless and future-ready customer experience.
