HOUSTON and NEW YORK, Oct. 28, 2021 /PRNewswire/ -- Post Oak Motor Cars ("POMC"), owned by businessman Tilman Fertitta, today announced a partnership with NYDIG, a leading bitcoin company, to integrate bitcoin into the Houston-based luxury auto dealer's business operations. This partnership will allow POMC customers to purchase luxury automobiles financed through loans secured by bitcoin, enable POMC to use its appreciated bitcoin treasury holdings to finance a new expansion, and enable employees to allocate a portion of their paychecks to bitcoin – all powered by NYDIG's secure, regulated, full-stack platform.
POMC also announced that it had sold its first luxury automobile financed with bitcoin: a Rolls Royce Ghost, financed with the customer's bitcoin held at NYDIG.
The collaboration will enable POMC to offer customers access to NYDIG's institutional-grade, 100% cold storage custody solution. Bitcoin holders who don't want to sell their bitcoin will be able to access a portion of its value by borrowing USD using the bitcoin as collateral. The product does not require customers to make any interest payments during the life of the loan.
