Leading Southeast Asian crypto exchange Zipmex processed the transaction on its ZipSpend crypto-payment network.

The distinction for the purchase of Asia’s first Lamborghini using bitcoin goes to car buyer Jo Chirawat, exchange Zipmex, and Bangkok-based Lambo dealer Renazzo Motors. Zipmex announced it had facilitated the transaction for a bitcoin-paid Lamborghini 2021 Huracán EVO RWD through its  ZipSpend crypto-payment network. (Finextra).

Lamborghini 2021 Huracán EVO RWD

Chirawat made a down payment on the Lambo by paying bitcoin to dealer Renazzo. The dealer accepts payment in bitcoin (BTC), USD tether (USDT), and Zipmex token (ZMT) with instant verification on Zipmex’s ZipSpend crypto payments network.

The buyer will make the balance payment also in bitcoin.

“This is a huge milestone for Zipmex, Renazzo Motor, and cryptocurrency payments in Southeast Asia,” said Zipmex CEO Marcus Lim. “The Lamborghini brand has had special meaning in our industry and we are excited to be able to provide our users with the opportunity to do more with their cryptocurrencies.”

Crypto adoption

Zipmex is pushing for the adoption of cryptos in more and more transactions across Southeast Asia. Other Thai merchants integrated for payments with Zipmex include the NOVA Contemporary gallery, which allows fine art lovers to purchase art with cryptocurrencies.

Further, WasuthaGroup, the first distributor of Tesla (NASDAQ: TSLA) vehicles in Thailand, sold its first Tesla using Zipmex to process the payment in bitcoin.

“We are actively welcoming all partners interested in accepting crypto payments,” said Mr. Lim. “As our team grows, we plan to scale up our merchant integration across the region, with Singapore as the focal point.”

Zipmex, which operates in four Southeast Asian locations, including Singapore, launched in Thailand in the summer of 2020.

In Thailand, the company has seen 5x growth in customer acquisition and 10x growth in transaction volume and AUM since launch.

Related Story:  Tesla Converts $1.5B Of Surplus Cash To Bitcoin

Image credit: Lamborghini