Ferrari Now Accepting Bitcoin Payments in Europe

The Italian luxury sports car Ferrari is considering adopting a Bitcoin (BTC) payment option on its platform for its European customers. This comes after the introduction of crypto payment options for its United States customers last year.  

Ferrari EU Customer Can Pay With Bitcoin Soon

In a press statement, the Maranello-based luxury cars company revealed its plans to expand its program to allow European dealer networks to pay with crypto. This decision was driven by the increasing interest from Ferrari’s affluent customers who are keen on using digital currencies for high-end purchases. 

Notably, by the end of 2024, the company said this payment method will be available to more international dealerships in several crypto-legalized countries. This bold move reflects the company’s commitment to meeting the evolving needs of its clientele. 

In contrast, many top-tier firms are cautious of crypto assets due to its volatility. Ferrari, however, has shown its readiness to adapt to market demands. Speculations surrounding this decision stem from the company’s strategic partnership with BitPay in the U.S. Partnering with BitPay will simplify the crypto payment process for Ferrari’s customers.

BitPay converts crypto payments into traditional currency instantly for the dealers. This shields clients away from price fluctuations and extra fees. Notably, the company did not tell if it would collaborate with other payment processors for the expansion of this program in Europe or other regions.

Ferrari’s Crypto Integration Reflects Industry Trends

The decision of Ferrari to incorporate Bitcoin payment options aligns with the growing trend of crypto adoption across various industries.

This strategic move reflects the changing landscape of the financial world. Earlier this month, the giant fintech firm, Stripe expanded its reach by offering crypto services to users in the European market. Also, Shopify incorporated crypto payments on its platform in June. Above all, the less stringent legal rules imposed by the local European regulatory agencies is a key factor in attracting prominent companies to the region.

Moonpay, a digital payment service provider opened its operational hub in the UK recently. The decision to expand was driven by the region’s higher talent ratio compared to other global regions.

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