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Ferrari announced that it would extend its cryptocurrency payment scheme to its European dealers network by the end of July, following its successful launch in the United States last year. The luxury sports car manufacturer plans to broaden this payment option to other international markets by the end of 2024, in countries where cryptocurrencies are legally accepted.
The decision to adopt cryptocurrency payments in Europe comes after Ferrari introduced the scheme in the U.S. in response to demand from its high-net-worth clients. This initiative aims to help dealers better meet the evolving needs of their customers, according to a company statement.
Although many major companies have avoided accepting cryptocurrencies due to their volatility, Ferrari’s move reflects the increasing interest among its clientele. The company initially partnered with BitPay, a leading cryptocurrency payment processor, to facilitate transactions in Bitcoin (BTC), ether (ETH), and USD Coin (USDC) in the U.S.
