Luxury electric car manufacturer based in California, Karma Automotive is now accepting digital currency as a form of payment at one of its stores in Newport Beach.

Karma Newport Beach now permits clients to pay in Bitcoin – the world’s largest cryptocurrency by market capitalisation – for new vehicle purchases.

This is according to a press release issued by the company this week. CEO of Karma Automotive, Lance Zhou said: “We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use. Karma’s flagship store will support our efforts to prove emerging technology and provide the latest VVIP customer treatment offerings by accepting Bitcoin cryptocurrency.”

China’s Wanxiang Group purchased Karma’s assets from Fisker Automotive back in 2014 for $149.2 million, as per a Coin Telegraph report.

It started manufacturing its flagship Revero vehicle three years ago, the new model of which retails at more than $135,000.

Elsewhere in the luxury goods market, Swiss watch brand Hublot unveiled its Big Bang Blockchain watch in September last year, that could be purchased exclusively with Bitcoin.

Cryptocurrency wallets have also been integrated in Franck Muller luxury watches, with Franck Muller’s crypto wallet watches retailing from $9,800 to $50,600.

In addition, car manufacturers across the globe have been working with the technology underpinning cryptocurrencies, blockchain. 

Ford Motor Company has been contemplating utilising the technology to monitor the number of “green miles” driven by its energy-efficient vehicles.

Furthermore, BMW, General Motors, Ford, Renault and Honda have tested out a car identification and payment system using blockchain in the U.S.

In India, last month Tata Motors unveiled plans to use blockchain solutions within various features of the auto industry. These include real-time monitoring of fuel quality and the parking marketplace, as reported by Coin Telegraph.