INDIANAPOLIS — Mecum Auctions, a collector car auction company, is now accepting cryptocurrency for payment using BitPay.
The companies made the announcement while an auction is underway until May 22 at the Indiana State Fairgrounds.
Through BitPay, Mecum Auctions will be able to accept Bitcoin, Wrapped Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, stablecoins USD coin, Dai, Gemini Dollar, Paxos Standard and Binance USD.
In a press release, the companies say accepting cryptocurrency will allow Mecum to attract new customers and sales and welcome a new dimension to the live auction events.
“We recognize the growing acceptance of cryptocurrency for commerce and are confident that by accepting crypto for collector cars, it will widen our scope of influence and introduce the Mecum Experience to an entirely new audience,” Mecum Auctions Chief Operating Officer Sam Murtaugh said in the release.
Stephen Pair, the CEO of BitPay, said the company is working to make accepting cryptocurrency a seamless process and increase its adoption in more payments.
“Mecum Auctions realizes the potential for crypto to revolutionize the collector car auction industry, making payments faster, more secure and less expensive on a global scale,” Pair said in the release.
Cryptocurrency will be accepted at the Indianapolis auction and all future auctions.