Cion Digital integration into CarNow platform will present auto sellers with quick and compliant crypto fee and lending options
Atlanta, GA, March 11, 2022 (GLOBE NEWSWIRE) — (through Blockchain Wire) CarNow, the automotive trade’s main digital retailing firm, right this moment introduced a partnership with Cion Digital offering clients a solution to buy and finance automobiles utilizing cryptocurrency through an integration with CarNow’s Actual-Time Retail™ platform.
Cion Digital’s ready-to-deploy modular funds and lending platform gives corporations with entry to all of the connectivity, infrastructure and help wanted to quickly deploy blockchain-based real-time fee and lending options, and to include digital belongings into current conventional and legacy fee and financing methods.
This functionality will probably be made accessible to CarNow’s total community of almost 5,000 sellers and can embrace a first-of-a-kind crypto lending market that can let automotive consumers use their crypto as collateral for loans at extremely aggressive charges.
Commenting on the partnership, Tim Cox, Co-founder and Chief Evangelist of CarNow stated, “This partnership additional demonstrates our dedication to offering our sellers and their shoppers with essentially the most inclusive, dealer-friendly fee choices. Now our sellers can higher join with a brand new sort of purchaser who’s trying to leverage subsequent era cryptocurrency fee choices and create a extra frictionless automotive shopping for journey. We’re thrilled to be embarking on this alliance collectively as we glance to rework the car-buying expertise.”
Cion’s Auto Dealership Cryptocurrency integration offers automotive consumers procuring at a dealership utilizing CarNow versatile fee and lending choices. Automotive consumers can select to position a deposit on a automobile with cryptocurrency, make a down fee, or pay for the automobile in full. The platform permits for full fee in cryptocurrency, in addition to choices to mix each crypto and fiat currencies in the identical transaction. Automotive consumers may use cryptocurrency as collateral to qualify for a low-interest mortgage with certainly one of a number of lenders in Cion Digital’s lending market – virtually all the time at considerably higher charges than conventional financing. As soon as a automotive purchaser chooses how they need to pay, the order is ported from the CarNow platform to Cion Digital. The mixing permits consumers to progress by way of identification verification (KYC) rapidly and seamlessly and proceed to fee.
Transactions are confirmed on the blockchain and transferred in compliance with AML and KYC laws on to the custodian in both crypto or fiat (as requested by the supplier) in only a few seconds. Sellers can then select once they need to switch settled funds through ACH into their checking account.
“Cion is happy to formally associate with CarNow to supply their supplier companions the power for consumers to pay for automobiles in cryptocurrency or to make use of their cryptocurrency as collateral for what is commonly a decrease price mortgage,” stated Fred Brothers, President and Co-founder of Cion Digital. “With greater than half of Millennials now proudly owning crypto, CarNow is growing supplier capabilities for this fast-growing market of consumers who need extra financing and buying choices on the dealership.”
At rollout, consumers can choose from the highest 20 cash together with Bitcoin, Ethereum, Cardano, Tether, Litecoin, USDC, Polkadot and Sprint. Future platform enhancements will embrace the power to separate the acquisition worth amongst a number of cash.
Sellers concerned about studying extra about this partnership can go to CarNow at Sales space #1771W at NADA 2022 for a demo or go to https://www.ciondigital.com/auto.
About CarNow
CarNow is a market chief in digital retailing options for the automotive trade. CarNow creates frictionless, real-time enterprise software program options to facilitate the transaction between sellers and customers. Via our options, buyers obtain enhanced digital showroom providers, reside help at anytime, from anyplace, on any gadget. With over 5,000 dealership clients and over twenty producer certifications, CarNow is likely one of the quickest rising corporations in automotive. CarNow is headquartered in Atlanta, Georgia. Study extra at https://carnow.com
About Cion Digital
Cion Digital’s proprietary Blockchain Orchestration Platform permits establishments to construct progressive finance options rapidly, and to seamlessly join their legacy methods with the complicated and ever-changing world of decentralized finance.
Our Blockchain Orchestration Platform permits auto sellers and different big-ticket retailers to simply accept cryptocurrency transactions. We have constructed the last word crypto dealership platform to offer automotive fee and lending options unmatched within the trade. For extra data go to us athttps://www.ciondigital.com/auto
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CONTACT: CarNow Media Contact Lou Laste 678-492-2737 lou.laste (at) yahoo.com Cion Digital Contact Katie Robinson katie (at) ciondigital.com
