Dec. 13 will be an important day in cryptocurrency history. Danal Fintech, the operating company of integrated payment platform Paycoin, has announced that it has opened the BMW vehicle payment service in partnership with Samcheonri Motors, a domestic BMW dealer in South Korea. Paycoin will become the world’s first virtual asset supporting vehicle purchases, ahead of Tesla, having announced earlier this year that it will begin accepting crypto payments.

It is noteworthy that Paycoin has introduced a new example of a digital asset payment for expensive products such as automobiles in addition to other regular products such as items sold in convenience stores and in food and beverage franchises, which it has been doing for years.

To buy a BMW, users will simply be required to access the Paycoin app, which covers all the necessary procedures for purchasing the car, from the vehicle contract all the way to the vehicle’s release options.

To promote the opening of the BMW payment service, Danal Fintech has also announced that it would give out free engine oil for the life of the vehicle, hold a cashback event, and return 7% of the Paycoin payment on all BMW acquisitions.

“To purchase a car with crypto means we can buy anything in the world with cryptocurrencies. In addition to expanding partnerships with various automakers beyond BMW, we will do our best to create an environment where everything can be purchased with Paycoin,” said Hwang Yong-Taek, CEO of Danal Fintech. “The environment includes that of metaverses where various economic activities will take place. I hope that Paycoin will be the necessary and important tool of metaverse economy.”

In addition, Paycoin is hosting a large-scale promotion starting mid-December. The promotion includes a 30% discount in convenience stores and a 50% discount in restaurants and entertainment spots. It will be one of the largest discount and cashback promotions ever hosted by Paycoin and will include 100,000 merchants, such as 7-Eleven, Burger King, Domino’s Pizza, KFC, CGV (largest movie theater in Korea), Dal.komm coffee, among others, in South Korea. More details can be found in the Paycoin app.


Company Name: Danal Fintech (Paycoin)

Contact Person: Sungmin Park

Contact email:

Phone: +82-31-779-1752

Country: South Korea