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Electric car charging payments with bitcoin in Europe

Two payment companies will offer the option to pay with cryptocurrencies for electric car recharging, starting in November this year.

Electric car recharging
Electric car recharging (Photo by @CHUTTERSNAP on Unsplash)

Key facts

  • The service would be available from November this year.

  • In addition to cryptocurrencies, The company expects payments using Vourity's native token.

The adoption of electric cars in Europe is here to stay and, from November this year, Bitcoin users will be able to pay for electric charging with their crypto assets.

Two payment companies, Ireland-based Hips, and Sweden's Vourity reported that they have partnered to bring outlets with the option to accept cryptocurrencies to more than 50,000 charging stations over the next three years across the European Union.

The European Court of Auditors assessed that the number of recharge points in the EU grew from 34,000 in 2014 to 250,000 in 2020. In the case of Spain, there are 7,821 recharging points for public use. The European nation that leads the ranking of electric supply points is the Netherlands with 28,786 points, followed by France with 12,081 and, in third place, is Germany with 9,853.

On the other hand, although the companies did not reveal which crypto assets they will accept, they indicated that the cryptocurrency payments are into the Vourity platform. The plan is that users will also pay with Hip's token, named Merchant Token (MTO), on the company's native blockchain. However, this token has not yet been launched and is in the initial coin offering (ICO) phase.

Vourity currently allows paying for electric recharges through traditional methods, such as credit cards, Apple Pay, Google Pay, Swish, and Blue code. It operates with a web-based platform for unattended or self-service sales and delivery.

"Enabling the cryptocurrency payment method will make charging convenient for all-electric car drivers, which will accelerate the shift towards a better future for electric cars," noted John Cavebring, CEO of Hips.

For his part, Hans Nottehed, CEO of Vourity, commented that for the company, innovation is essential, and enabling payments with cryptocurrencies is part of the needs of electric car users.

Electric cars and cryptocurrencies fit.

Electric vehicles have gained notoriety in recent years, and likewise, adoption and reliance on cryptocurrencies have increased. Now one company plans to bring the two worlds together.

Vehicle manufacturer Daymak hopes that users will mine cryptocurrencies using the car itself. Spiritus, the vehicle's name, will have integrated equipment to mine Bitcoin (BTC) and Dogecoin (DOGE). They scheduled the launch for 2023.

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