Summary:
- Ferrari expands crypto payment options to European dealer network.
- Initiative follows successful U.S. launch and high client demand.
- Future expansion planned for other regions where crypto is legally accepted.
Luxury sports car giant Ferrari is set to expand its crypto payment options to its European dealer network this month, following a successful launch in the United States. This initiative is in response to growing market and dealer demand, as many of Ferrari’s clients are heavily invested in cryptocurrencies.
The Italian firm, partnering with BitPay for its U.S. launch, initially rolled out crypto payment options in October, accepting bitcoin, ether, and USDC stablecoin. Payments are immediately converted into fiat currency to protect dealers from price volatility. The expansion into Europe aims to support dealers in addressing the evolving needs of Ferrari’s clientele.
Ferrari plans to extend this payment scheme to other regions where cryptocurrencies are legally accepted. However, the specific crypto payment processors for Europe and other regions remain undisclosed.
This move mirrors earlier initiatives by companies like Tesla, which began accepting bitcoin in 2021, though later suspended crypto payments due to environmental concerns. Ferrari’s continued expansion into crypto payments highlights the growing integration of digital currencies in the luxury automotive market.
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