🚀🚀🚀Cryptocurrency Payment Options Extended to Europe by Ferrari
Reuters reported on Wednesday that Ferrari (RACE) would expand its cryptocurrency payment options to Europe by the end of July.
With the help of BitPay, the Maranello, Italy-based premium sports car manufacturer first started taking cryptocurrency payments in the US in October. Bitcoin, Ether, and USD Coin are the cryptocurrencies that are accepted.
In a business release, Ferrari announced that their plan to "support dealers in better addressing the evolving needs of its clients" includes accepting cryptocurrency payments in Europe.
As interest in digital currencies continues to rise, Ferrari hopes to provide its customers additional payment alternatives by extending this service.
While it's not common for large corporations to accept cryptocurrencies as a payment option, Ferrari's desire to do so indicates a notable trend.
A lack of consumer demand and crypto users' reluctance to spend their coins on ordinary transactions owing to fears of value rises are often thought to be the causes of this rarity.
On the other hand, the long-term worth of luxury goods like Ferrari vehicles makes cryptocurrency' volatility less of a concern. To appeal to the spending habits of its tech-savvy customers, other luxury firms may follow Ferrari's lead and accept digital currencies.
By the end of 2024, Ferrari hopes to have expanded into other markets and offered cryptocurrency payment choices worldwide. The company's dedication to innovation and customer pleasure, even in a changing financial context, is shown by this strategic step.
