Togg, a Turkish company specializing in automobiles, recently called for experts in electronic wallets and payments. The news hit Twitter on the 25th of May, 2022. It has been rumored that the automobile company is looking to integrate cryptocurrencies into its payment methods.
Togg is set to release its electric cars this year. It is seen as the only company competing with Tesla at the moment. Although the company is much smaller than Tesla, it has gained attention for its fanciful vehicles and technology.
Undoubtedly, if the move to accept crypto payments is actualized, the company’s business and services will attract the attention of crypto fans.
Will Togg Achieve What Tesla Failed to Achieve?
Early last year, the CEO of Tesla announced via Twitter that the company would now accept crypto payments. This news was met with joy in crypto communities. The adoption of Bitcoin by one of the biggest companies in the world was a significant achievement.
Sadly, the joy in the minds of crypto fans only lasted for so long. About two months later, Elon Musk announced that Tesla would no longer accept Bitcoin payments due to environmental concerns. Tesla as a company strongly advocates for a greener earth, and the effect of Bitcoin mining on the ecosystem did not align with Tesla’s goals.
As expected, the negative news was followed by a dump in the price of Bitcoin, leaving several crypto investors furious. Although Tesla now accepts Dogecoin at some of its outlets, it has yet to reconcile with Bitcoin payments fully.
Togg now seems to be the next electric vehicle company that is on course to accept payments in digital currencies. Since one of the company’s core goals is to reduce environmental pollution in Turkey, carbon-negative tokens like Algorand may be welcomed by Togg. This will surely be a plus to the nation and the whole crypto ecosystem.
