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Luxury sports car manufacturer Ferrari is set to begin accepting cryptocurrency payments from its European dealers by the end of July, aiming to meet the evolving preferences of its clientele. This expansion follows a successful launch in the United States less than a year ago.
Partnership with Bitpay
In the US, Ferrari accepts Bitcoin (BTC), Ethereum (ETH), and stablecoin USDC as part of its partnership with Bitpay. This collaboration allows Ferrari to offer its customers a modern payment method while ensuring the security of transactions.
Secure Transactions in Europe
To facilitate secure transactions in Europe, Ferrari will partner with various companies specializing in crypto payments. This system enables dealers to accept cryptocurrency payments without needing to manage the currency directly, as the cryptocurrency will be instantly converted into traditional currency.
Ferrari’s Official Statement
Ferrari emphasized the importance of adapting to the changing needs of their customers: "The entry into the European market follows the successful launch of this alternative payment system in the US less than a year ago to help dealers better meet the changing needs of their customers." The company also noted the positive reception among dealers: "The majority of dealers in the region have adopted or are in the process of adopting the cryptocurrency payment system."
Global Expansion Plans
Ferrari plans to further expand its cryptocurrency payment system globally by the end of 2024. This move reflects the company's commitment to embracing innovative technologies and providing its customers with diverse payment options. As Ferrari continues to lead in luxury automotive innovation, its adoption of cryptocurrency payments underscores a broader trend of integrating digital currencies into mainstream commerce. Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.