Ferrari Drives into the Future: Revs Up Cryptocurrency Payments
Ferrari, the esteemed luxury sports car manufacturer, is venturing into the world of cryptocurrencies.
Recent reports reveal that the company now allows customers in the United States to use cryptocurrencies like Bitcoin and Ethereum for purchasing their high-end vehicles, with plans to extend this option to European markets due to increasing demand.
Known for its high-performance automobiles, Ferrari has strategically embraced cryptocurrency payments in response to growing requests from their clientele, which includes both crypto-savvy investors and traditional buyers seeking diversification. Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, emphasizes that this shift aligns with the company’s commitment to carbon neutrality by 2030, citing cryptocurrency’s environmental improvements.
While Ferrari aims to broaden its customer base and cater to potential buyers who might not have considered their cars before, they haven’t disclosed the exact number of vehicles they plan to sell through cryptocurrency transactions. Still, they highlight a robust order backlog extending into 2025.
For their cryptocurrency rollout in the United States, Ferrari has partnered with BitPay, a major cryptocurrency payment processor. BitPay swiftly converts cryptocurrency payments into traditional currency, mitigating digital asset volatility for dealers and the company.
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This move to accept cryptocurrency payments aims to offer Ferrari’s clientele a seamless and fee-free experience. Additionally, Ferrari intends to extend its cryptocurrency payment system to European markets by the first quarter of the upcoming year, targeting regions where cryptocurrency usage is legally accepted.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
