Ferrari Launching Crypto Payment System for European Market

Ferrari, the iconic Italian luxury sports car manufacturer, announced on Wednesday that it will introduce its cryptocurrency payment system to European dealers by the end of July 2024. This move follows the successful launch of crypto payments in the U.S. less than a year ago, aimed at better serving client needs. By the end of 2024, Ferrari plans to extend this payment option to other international markets where cryptocurrencies are legally accepted. To ensure transaction security, Ferrari is partnering with several cryptocurrency payment companies. These partners will handle the immediate conversion of cryptocurrencies into traditional currency, sparing dealers from managing cryptocurrencies directly. They will also verify the source of funds and protect transactions from exchange rate fluctuations. Most of Ferrari’s European dealers have already implemented or are in the process of adopting this new payment system, which complements existing traditional methods.