PANews reported on July 24 that according to CoinDesk, Ferrari will expand its cryptocurrency payment service to Europe by the end of July. The luxury sports car manufacturer headquartered in Maranello, Italy, began working with BitPay to accept cryptocurrencies in the United States last October. Accepted tokens include Bitcoin, Ethereum, and USDC.

Ferrari is currently expanding the program to Europe "to support dealers in better meeting the evolving needs of their customers," Reuters reported, citing a company statement. The company plans to expand the service to other markets by the end of 2024.