According to TechFlow, on July 24, Coindesk reported that the luxury sports car brand Ferrari announced plans to launch cryptocurrency payment services in the European market at the end of July. Ferrari will accept Bitcoin (BTC), Ethereum (ETH) and US dollar stablecoin (USDC) as payment methods. The company has already cooperated with BitPay in the US market in October last year and began accepting cryptocurrency payments.
Ferrari said the expansion is designed to support dealers to better meet the changing needs of customers, and plans to expand further to other markets by the end of 2024. Despite the growing popularity of cryptocurrencies as an investment tool, it is still relatively rare for major companies to accept cryptocurrencies as a payment method, which may be partly due to insufficient customer demand. For luxury goods such as cars, holders may be more willing to use cryptocurrencies for consumption because these goods usually have long-term value.
