Rex Motor Company, a local car dealership on the Isle of Man, now accepts GBPT as payment for its cars. Last week it became the first dealer to accept GBPT when it sold a luxury Bentley for 75,000 GBPT (£75,000).

Rex Motor Company is leading the island’s car dealing business in technology and innovation. They started accepting Bitcoin payments earlier this year, and now the GBP-pegged stablecoin.

“It is important for a traditional business to embrace technology and innovation, which enables us to engage with the younger generation and wider customer base. Accepting GBPT makes a lot of sense for Rex Motor Company as a British-Isles-based business. It’s regulated and always 1:1 to pound sterling. It’s easy for customers to make payments in GBPT and easy for our accounting as well.” says Ian Drake, Founder of Rex Motors.

poundtoken CEO Alan Sun says: “We are very excited about the partnership between the two Isle of Man businesses in the forefront of innovation. Our mission is to enable individuals and businesses to take full advantage of blockchain technology with full confidence. With regulation and complete transparency, we expect GBPT to be more and more adopted as a method of payment, a tool for treasury management, and a gateway to web3 applications.”

For more on Rex Motor Company: www.rexmotorcompany.im
For more on poundtoken: poundtoken.io