According to Reuters, luxury sports car manufacturer Ferrari will start receiving payments in cryptocurrencies to its European dealers from the end of July in order to meet changing needs.
Ferrari's cryptocurrency payment system, which plans to expand its cryptocurrency payment system internationally by the end of 2024, was successfully launched in the USA less than a year ago.
Ferrari accepts Bitcoin (BTC), Ethereum (ETH) and stablecoin USDC in the US as part of its partnership with Bitpay.
Ferrari will use various companies active in crypto payments to ensure transaction security in Europe. Dealers will be able to accept payments without the need to manage currency, with the cryptocurrency instantly converting into traditional currency.
Ferrari said in a statement:
“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 majority of dealers in the region have adopted or are in the process of adopting the cryptocurrency payment system.”
*This is not investment advice.
