Cryptocurrency
Ferrari Expands Crypto Payment System to Europe
Wednesday. July 24 at 7:30 PM
1 min. readItalian luxury sports car manufacturer Ferrari is set to broaden its cryptocurrency payment platform to Europe after a successful introduction in the United States. By the end of July 2024, Ferrari will roll out its crypto payment feature to its European dealer network. Following a prosperous launch in the US in October 2023, most European dealers have already integrated or are in the process of integrating the new payment system alongside traditional methods. Ferrari partnered with BitPay initially to enable crypto payments in the US, with around 50% of dealers utilizing the platform. In Europe, approximately 60% of dealers are on board with the project. The crypto payment tools offered by Ferrari do not require dealers to handle cryptocurrencies directly. Instead, customer's crypto assets like Bitcoin will be instantly converted to fiat currencies and transferred to bank accounts, ensuring transaction security and stability.