Nigerian Innoson Vehicle Manufacturing company has joined Telsa to start accepting crypto in exchange for its vehicles and other products.
According to a report by a news site Nairametrics, the owner of Innoson Chief Innocent Chukwuma signed a partnership deal with Archbishop Sam Zuga, the CEO and founder of Zugacoin on Saturday to this effect.
With this new partnership, Zugacoin holders can now purchase vehicles and other products under the umbrella of the INNOSON Group like motorbikes, plastics, etc.
Zugacoin is owned by a Nigerian. It was first unveiled in Nigeria in December 2020 to unlock the potential of the world’s largest growing workforce by creating, learning, earning, spending and saving opportunities across Africa and other lean economies.
Zugacoin currently trades at #35,512 ($93.15), with a maximum supply of 1 million. The crypto was first changed to fiat currency on March 3 2021.
The current price of bitcoin is $56,443.64, dropping by 6.30% in the last 24 hours. Bitcoin’s current market cap of $1.05T and market volume of $56.45B. In the last 24 hours, bitcoin has dropped to $53,101.24 and experienced a 24 hours high of $55,812.33. Currently, 18,654,500 bitcoins are in circulation.
Stats and Image from Coin Desk
Speaking on this new feat, the CEO of Zugacoin Sam Zuga said “Let it be on record all over the world that ZUGACOIN was first Cashed out/ withdrawn/ changed into Fiat currency on 3rd March 2021 by 13 minutes after 11 Antemeridiam (a.m) Nigerian time against all odds. When God says YES nobody can say no. With God all things are possible. All things are possible to him that believes.’’
This partnership is a big deal in the Nigerian crypto market because of the recent ban on crypto trading and holding by the Nigerian government.
The Central Bank of Nigeria earlier issued a directive to all banks to shut down any bank account engaged in any crypto-related transactions. Yet, P2P crypto trading has surged dramatically in the past few weeks.