BitPay Chosen as Exclusive Blockchain Payment Processor
WALWORTH, Wis. – May 17, 2021 – Mecum Auctions, the world’s largest collector car auction company, today announced it is now accepting cryptocurrency for payment via BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services. The ability to accept cryptocurrency enables Mecum to attract new customers and sales by opening its doors to the massive crypto marketplace and welcoming in a whole new dimension to the live auction events. Registered bidders will now have the option to pay for their collector car purchases with cryptocurrency during the in-person auction settlement process and, perhaps more importantly, online bidders will now have the convenience of an end-to-end digital experience from the comfort of home.
“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,” said Mecum Auctions Chief Operating Officer Sam Murtaugh. “BitPay provides a powerful, streamlined process that makes crypto transactions simple for both our customers and our accounting team.”
The addition of BitPay to its transaction settlement options enables Mecum to safely and securely accept Bitcoin (BTC), Wrapped Bitcoin (WBTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE) and stablecoins USD Coin (USDC), Dai (DAI), Gemini Dollar (GUSD), Paxos Standard (PAX) and Binance USD (BUSD).
“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,” said Stephen Pair, CEO of BitPay. “Our goal at BitPay is to make accepting crypto a seamless process and to increase adoption as crypto is the future of payments, and we’re thrilled to have the opportunity to support Mecum in providing crypto payment solutions for car enthusiasts worldwide.”
Mecum Auctions is currently hosting its 34th annual flagship event—Dana Mecum’s Original Spring Classic—in Indianapolis, Indiana, which will run through May 22 and feature 2,500 classic and collector cars on offer. Mecum will be accepting cryptocurrency payments for purchases made at the Indianapolis auction and for all auctions moving forward. Mecum’s website is updated daily with the latest consignments including detailed descriptions and photographs of the vehicles slated to cross the auction block. To view the list of consignments, to consign a vehicle or to register as a bidder for this and all Mecum auctions, visit Mecum.com, or call (262) 275-5050 for more information.
Nobody sells more than Mecum. Nobody. The Mecum Auction Company is the world leader of collector car, vintage and antique motorcycle, and Road Art sales, hosting auctions throughout the United States. The company has been specializing in the sale of collector cars for more than 30 years, now offering more than 30,000 lots per year and averaging more than one auction each month. Established by President Dana Mecum in 1988, Mecum Auctions remains a family-run company headquartered in Walworth, Wisconsin. For further information, visit Mecum.com or call (262) 275-5050.
Founded in 2011, BitPay celebrates its 10th birthday this year as one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.