Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Cion Digital Starts Supporting Crypto Transactions in Canada

Cion Digital Starts Supporting Crypto Transactions in Canada

Kelly Cromley by Kelly Cromley
May 10, 2022
in Market News, News
Reading Time: 3 mins read
0

As the need for purchasing automobiles with cryptocurrencies continues to grow rapidly throughout the world, Cion Digital has announced its entry into the Canadian market, which will allow automobile dealers to accept cryptocurrency payments. Canadian auto purchasers will now be able to procure vehicles utilizing bitcoin for both payments and financing, thanks to this new facility.

Fred Brothers, President, and Co-founder of Cion Digital, said “Due to the fact that nearly 50% of Millennials already hold cryptocurrency, we are thrilled to be able to assist Canadian dealers in supporting this rapidly expanding market of consumers who are demanding additional funding and purchase alternatives at the dealerships. Financing costs are substantially cheaper on the Cion Digital system, which also has a loan marketplace that is a first among its type. We assist auto dealers in supporting subsequent generations of vehicle purchasers who frequently have sub-prime credit scores since existing credit processes are difficult for younger newcomers to the market to navigate successfully.”

RelatedPosts

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

Brave Wallet Integrates Cardano, Boosting Web3 Access

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

Budds’ family-run automobile shops and facilities in Southern Ontario and Farquhar Chrysler, located north of Toronto, are two of the pioneering foremost Canadian dealerships to provide such facilities to their customers.

Chris Budd, General Manager at Budds’, said “We are pleased to announce that we have teamed with Cion Digital to provide automobile customers with a completely new payment experience. With an increasing number of consumers investing in crypto, the moment has come to provide simple crypto payment choices as well as crypto-secured funding to them. We intend to begin accepting cryptocurrency payments at our BMW, Land Rover, and Jaguar dealerships, followed by the introduction of cryptocurrency secured loans soon afterward. We also sell Subaru, Mazda, Cadillac, Chevrolet, Buick, GMC, and Mini automobiles, and we intend to improve the access to cryptocurrency for all of these manufacturers in the future. We are pleased to have been one of the foremost dealerships in Canada to embrace the crypto-currency revolution in payment processing.”

Cion Digital allows car owners to buy and fund automobiles using bitcoin as a payment method. Module payments and loaning platforms are available for use and offer automobile dealers with the availability of connectivity, framework, and support they require to quickly employ blockchain-powered instant payments and loaning remedies and to integrate cryptos into prevailing conventional and legacy funding platforms. For the first time, Cion Digital is a crypto lending platform that enables automobile purchasers to use their cryptocurrency as collateral for loans with very affordable interest rates.

Car purchasers may use cryptocurrencies to put some money on a car, pay a down payment on the automobile, or settle for the automobile as a whole. Customers may also leverage bitcoin as collateral to meet the criteria for low-interest loans from lenders in Cion Digital’s financing marketplace, which offers a variety of financing options. This gives dealerships a competitive advantage while also providing automobile consumers with a better offer. Transactions are validated on the blockchain and delivered immediately to the custodians in accordance with AML and KYC rules in either cryptocurrency or fiat (as chosen first by the dealer) in a matter of seconds. Dealers may then select the date on which they wish the final settlement to be sent into their checking account through ACH.

Ryan Farquhar, Owner, and President of Farquhar Chrysler said “As we continued to notice an increase in the number of millennials and subsequent generations embracing cryptocurrency, we realized that we required developing a rapid and inventive way to assist these new auto purchasers. To their advantage, Cion Digital enables customers who want a vehicle to pay with cryptocurrency, and for those who want to fund, Cion Digital will provide our customers with access to a loan marketplace with decent rates on a real time basis at our automobile dealership. We understand that obtaining incredible prime credit ratings is unattainable for newer generations, therefore developing a mechanism to help them that does not depend only on outmoded credit evaluation was critical for us to achieve our goals.”

Cion Digital’s entrance into Canada comes on the heels of the firm’s latest announcements of a collaboration with CarNow, the automotive sector’s premier digital retailing business, to make cryptocurrency payment solutions accessible to CarNow’s full network of around 5,000 dealers, as well as a strategic agreement between SALT and Cion Digital to provide SALT’s cryptocurrency loaning systems to 5,000+ car dealerships in the United States.

Previous Post

Bitcoin Dips Below $30K as Crypto Market Continues to Bleed

Next Post

Ocean Falls Blockchain Integrates Fireblocks’ Solution for Safe Digital Asset Custody

Related Posts

uzbekistan launches humo token backed by sovereign bonds

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
0

Uzbekistan is preparing to introduce HUMO, a blockchain-based digital token backed by government bonds, as part of a broader strategy...

brave wallet integrates cardano, boosting web3 access

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
0

Brave, a privacy-centric Web3 browser, has officially integrated the Cardano blockchain into both its native and standalone wallet applications. This...

microalgo unveils blockchain-powered ip protection algorithm

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0

MicroAlgo Inc. has introduced a blockchain-based intellectual property (IP) protection algorithm designed to overcome long-standing challenges in digital copyright enforcement....

0xmd expands to brazil in ai healthtech deal with senai cimatec

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
0

0xmd, a global startup focused on Generative Artificial Intelligence (AI) for healthcare applications, has officially launched its operations in Brazil...

fireblocks joins calastone to advance tokenized fund distribution

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025
0

Fireblocks has announced its collaboration with Calastone, the global funds network, to enhance Web3 connectivity within Calastone’s Tokenized Distribution solution....

promptale ai and orbler unite to revolutionize web3 engagement

PrompTale AI and Orbler Unite to Revolutionize Web3 Engagement

by Kelly Cromley
May 13, 2025
0

PrompTale AI has officially disclosed its strategic partnership with Orbler through its verified account on X (formerly Twitter), outlining a...

Next Post
Ocean Falls Blockchain Integrates Fireblocks’ Solution for Safe Digital Asset Custody

Ocean Falls Blockchain Integrates Fireblocks’ Solution for Safe Digital Asset Custody

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

uzbekistan launches humo token backed by sovereign bonds
Market News

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
brave wallet integrates cardano, boosting web3 access
Market News

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
microalgo unveils blockchain-powered ip protection algorithm
Market News

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0xmd expands to brazil in ai healthtech deal with senai cimatec
Market News

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
fireblocks joins calastone to advance tokenized fund distribution
Market News

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree