Home Latest 50,000 electric vehicle charging stations in Europe to offer crypto payments

50,000 electric vehicle charging stations in Europe to offer crypto payments

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The Irish company HIPS Payment Group and the Swedish firm Vourity have announced a partnership to begin accepting cryptocurrencies in at least 50,000 electric vehicle charging stations in Europe.

HIPS Payment Group Ltd specializes in e-commerce and mobile payment solutions. Vourity specializes in unattended payment methods such as electric vehicle charging stations.

The first charging stations will receive the function of payment for “refueling” an electric vehicle as early as November 2021. The renewal of 50,000 charging stations will take about three years.

It is not yet known which cryptocurrencies will be accepted for electricity. However, judging by the image provided by Vourity, there will be support for at least Ethereum. This assumption is due to the fact that the company issued the ETH logo on the payment terminal.

As you know, Ethereum will switch to Proof-of Stake in 2022. This will help reduce the negative reaction among electric car owners.

For the integration of cryptocurrency payments planned to use the HIPS Merchant Protocol Merchant Token. This protocol supports work on Ethereum and Solana networks, and support for the Cardano blockchain will appear in the future.

Recall that in April this year, HIPS Payment Group announced that customers of the Payment House taxi service in the UK and Scandinavian countries will be able to pay for rides using cryptocurrencies.

Electric cars and crypto

It is worth recalling that these are not the only developments related to cryptocurrencies and electric vehicles.

In early June, Canadian electric vehicle company Daymak announced that in 2 years it plans to release electric vehicles equipped with a special installation that allows mining cryptocurrencies. This setup will mine Bitcoin and other assets while the machine is charging or standing still.

In early March 2021, Stellantis, part of the Fiat concern, entered into an agreement with Kiri Technologies. To pay rewards to owners of Fiat electric cars in cryptocurrencies.

Volkswagen Group also announced that it is entering into an agreement with Energy Web, a blockchain technology company. Together they will create charging stations with blockchain technology. Thus, the blockchain, like crypto assets, continues to introduced into the traditional economy, gradually ousting fiat money from circulation.

Growth in the electric vehicle segment

Note that in 2020, about 2 million electric vehicles were sold around the world. According to the Bloomberg NEF forecast, their number will grow to more than 8 million in 2025, to 26 million in 2030 and reach 54 million by 2040.

Moreover, within 3 years the EU will have at least 1 million charging stations for electric vehicles. The European Union has set a mandatory target of 1 million public charging points for electric vehicles by 2024 and 3 million by 2029 to give consumers the confidence to switch to the new technology.

2020 has seen explosive growth in the electric vehicle segment in the automotive industry, with nearly every major manufacturer or group of brands announcing, presenting or announcing new and future electric vehicles.

Earlier, Apple announced that it intends to release its own car by 2024.

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