Iconic carmaker extends crypto payment system to European dealers, enhancing client flexibility and convenience.
Ferrari, the iconic luxury sports car manufacturer, has announced that it will extend its cryptocurrency payment system to its European dealer network. This move follows the successful launch of the scheme in the United States last year.
Starting from the end of this month, Ferrari's European dealers will begin accepting payments in cryptocurrency. This initiative is part of Ferrari's broader strategy to meet the evolving needs of its clients. By the end of 2024, Ferrari plans to further extend cryptocurrency transactions to other countries within its international dealer network, where cryptocurrencies are legally accepted.
To ensure secure transactions, Ferrari is collaborating with companies in the cryptocurrency payment sector. This collaboration allows dealers to accept payments without directly managing cryptocurrencies. Instead, the cryptocurrencies are immediately converted into traditional currency, minimizing the risk and complexity for the dealers.
Most European dealers have already adopted or are in the process of adopting this new payment system. This rapid adoption reflects the growing acceptance and integration of cryptocurrency in various industries, including the luxury car market.
Ferrari's move to accept cryptocurrency payments is a response to the evolving preferences of its clientele. By offering this payment option, Ferrari aims to provide greater flexibility and convenience to its customers, ensuring that they can purchase their dream cars using the payment method that best suits them.
Overall, Ferrari's expansion of its cryptocurrency payment system to Europe signifies a significant step in the integration of digital currencies into mainstream commerce, particularly in the luxury goods sector.
