Hyundai Motor finance has said it will not accept the digital currency bitcoin for payments, the latest blow to the cryptocurrency.
Hyundai Motor Finance said it would not accept cryptocurrencies as payment for its products, such as the Hyundai i20 and the 2017 Hyundai i30, in a statement issued Wednesday.
“We have determined that our products are designed for the most secure and efficient use, and therefore we do not support digital currencies as payment,” Hyundai Motor Financial Services said.
The move comes as other car manufacturers, such Asda and Daimler, have also come under fire for their use of digital currencies, which have been linked to fraud.
Some car manufacturers have started accepting cryptocurrencies for payments.
Hydeo said it had recently received information about an ongoing cyber attack and it would continue to monitor the situation closely.
“Our goal is to continue to make products available in China, but in the event of a cyber attack or a cyber breach, we will not be able to continue our business with any digital currency,” Hyundai said in the statement.
Hydero said its financial services division would continue its regular review of its financial products.
Bitcoin has been gaining popularity in China.
Its popularity has attracted a growing number of investors and startups.
Many Chinese tech companies, including Tencent Holdings Ltd and Tencent.com, are also using cryptocurrencies to make payments.