Ferrari to accept crypto payments in Europe

Published 27 July 2024
- By Editorial Staff

Luxury car manufacturer Ferrari is now extending the ability to pay with cryptocurrency to European customers. After testing the payment solution in the US for a year, the company is now ready to introduce this modern payment method to other markets.

From the end of July, European customers will be able to use cryptocurrencies such as bitcoin to buy a Ferrari.

The payment solution is part of Ferrari’s strategy to offer its customers flexible and innovative payment options.

– We see an increasing interest in cryptocurrencies among our customers and by offering this payment option we hope to best meet their needs, said a Ferrari spokesperson.

By the end of the year, the system is expected to be available in all international markets where cryptocurrency trading is permitted.

Approved in the US

Ferrari began accepting cryptocurrencies in the United States in mid-May last year and has since seen a positive market response. In 2024, the company plans to expand the system to other regions where cryptocurrencies are legally accepted.

The company says that the majority of its European retailers have already adopted or are in the process of adopting the new payment system.

Although Ferrari has not yet revealed which payment providers will be used in Europe and other regions, the initiative reflects a broader trend in the luxury goods sector.

Several other companies in the industry are also looking for innovative ways to meet customer demand and improve the shopping experience. One example is Tesla founder Elon Musk, who previously considered similar solutions, although he later withdrew the proposal.

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