Ferrari to expand cryptocurrency payments for cars to Europe after US launch
Luxury sports car giant Ferrari is set to expand#Bitcoinand#cryptocurrencypayment options to its European dealer network this month.
The Italian firm will also extend the plan to other distributors in its international network within countries where cryptocurrencies can be legally accepted, Reuters reported on Wednesday.
Ferrari initially launched cryptocurrency payment options for its cars in the US in October and intended to expand to Europe in the near future. The initial decision was made in response to requests from the market and dealers, as many of Ferrari's customers invested in cryptocurrencies.
"Entry into the European market follows the successful launch of this alternative payment system in the United States less than a year ago, to help dealers better address the changing needs of their customers," the company said, adding that most of distributors in the region have already adopted the solution or are in the process of doing so, according to Reuters.
Ferrari partnered with BitPay as its cryptocurrency payment processor for the US launch, accepting payments in bitcoin, ether, and the USDC stablecoin, and cryptocurrency payments to dealers were immediately converted to fiat currency to "protect" them. of price fluctuations".
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