Ryde, the car sharing application that set out to reduce the number of vehicles in Singapore-based traffic and make people meet, announced that it has launched the crypto wallet that will make it easier to pay with Bitcoin (BTC).

According to the press release shared on June 17, Ryde stated that it is the first and only vehicle sharing application to include Bitcoin payments in its ecosystem. The company's customers will be able to use Bitcoin as of June 22.

Other cryptocurrencies will also be supported
Ryde's wallet application, RydePay, will allow users to convert Bitcoin to Ryde money and pay. The conversion between currencies will be based on market prices and there will be no additional fees. Ryde’s own cryptocurrency is fixed to the Singapore dollar.

Bitcoin transactions in the wallet will be limited to a maximum of $ 999 Singapore ($ 715). In addition, the company plans to add support for more cryptocurrencies in the future. Terence Zou, the company's founder and CEO, said:

“COVID-19 accelerated the transition to digital payments and Ryde was the pioneer in adopting the cryptocurrency in Singapore. […] Consumers will be able to pay for vehicle sharing services with Bitcoin. "

Ryde, Singapore's popular vehicle sharing application, announced that payments with Bitcoin will be accepted. Stating that they started a crypto wallet to make the payment with Bitcoin, the company became the first and only vehicle sharing application to accept payment with crypto money. The payment system, which will be used as of June 22, will be realized by the RydePay wallet. Thanks to Rydecoin, which will be equal to 1 Singapore Dollar, Bitcoins will be converted to Rydecoin and payment will be completed in this way. It is stated that this development will also help Sinagupur adopt the crypto money sector.