CLASSIC PARADE FLAGS OFF UK'S FIRST CRYPTOCURRENCY PAYMENT SERVICE TO RENT SUPERCARS

KUALA LUMPUR, Feb 22 (Bernama) -- Supercar rental company Classic Parade has launched a cryptocurrency payment system, the first in the United Kingdom (UK), to rent the world's most impressive supercars.

According to a statement, customers can now choose to pay to for selection of over 100 supercars from 28 luxury marques in Bitcoin or Ethereum cryptocurrency as well as in Pound Sterling.

One of the cars available at its showrooms in London, Manchester and Edinburgh, is the GBP 2.4 million Bugatti Chiron, which costs GBP 200,000 a day to rent, or 220.75 ETH, or 11.696 BTC. (GBP 1 = RM5.38)

Classic Parade founder and owner Andrew Brown said: “Our clientele are international and want to be able to pay to rent our supercars without the hassle and cost of exchange rates and transfer fees.

"Many of our clientele have significant holdings in cryptocurrency and so it makes sense to offer this option for them. The transactions are immediate, and we can also take the deposits in crypto as well, and then it is easy to return the deposit after the rental has expired as well."

Crypto payments are made to Classic Parade's secure wallet and all necessary steps are taken to ensure the safety of the financial transfers.

Once the funds have been transferred and the rental agreements are signed, the supercar is either collected or delivered to the customers address in the UK.

“We have to go through the usual identity checks needed to hire a vehicle, but these are easy to process, and it becomes much easier with every repeat transaction. This way we can also provide adequate ‘know your customer’ checks,” added Brown.

More details at https://www.classicparade.co.uk

-- BERNAMA