Ferrari, the Italian based luxury sports car manufacturer, is setting the stage to introduce cryptocurrency payment capacity in Europe after it commenced it in the United States.
Ferrari is to expand a crypto payment option to its network of dealerships in Europe starting from the end of July 2024, the firm declared on July 24.
At the time of the announcement, most of Ferrari’s European dealers had already adopted or were in the process of adopting the new payment system that adds to the traditional ones, the firm said, adding:At the time of the announcement, most of Ferrari’s European dealers had already adopted or were in the process of adopting the new payment system that adds to the traditional ones, the firm said, adding:
“By the end of the year 2024, Ferrari will extend the use of cryptocurrencies in other countries in the international dealer network where the use of cryptocurrencies is legal.”
EU entry follows Ferrari’s US crypto payment rollout
The crypto payment system was launched in the US in October of 2023 and now the car company Ferrari has ventured into the European market.
To support the US-based customers, Ferrari initially tapped into another large American crypto payment processor called BitPay that lists such industry giants as the cinema chain AMC Theaters, electronics retailer Newegg, and others.
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“Currently, the platform is actively used in the countries of the United States and Canada, that is, by approximately 50% of dealers,” a source in Ferrari informed ForksDaily.