#Ferrari Begins Accepting Cryptocurrency Payments in the US

Italian luxury car manufacturer Ferrari has introduced digital assets as a payment method in the United States, with plans to expand to Europe in the first quarter of 2024, according to Reuters.

Enrico Galliera, Ferrari's Chief Commercial and Marketing Officer, explained that this decision was made in response to requests from dealers and customers, many of whom have invested in cryptocurrencies. "Some of them are young investors who have built their wealth through digital assets. Others are more traditional investors looking to diversify their portfolios," he said.

Ferrari has partnered with payment processing service #BitPay which will convert received assets into fiat currency. Initially, the #company is accepting Bitcoin, Ethereum, and the stablecoin #USDC

"This will allow us to connect with people who may not necessarily be our customers but can afford a Ferrari. Prices will remain unchanged, with no fees or surcharges when paying with cryptocurrencies," Galliera noted. In the first half of 2023, Ferrari delivered over 1,800 vehicles in North America. However, the company has not specified how many vehicles it plans to sell with cryptocurrency payments.

It's worth mentioning that in January, the German car manufacturer Porsche launched its own #NFT collection. In May 2022, Italian fashion house Gucci began accepting digital asset payments in five of its US stores. $BTC $ETH