Ferrari Accepts Crypto Payments with BitPay


Ferrari is entering the crypto world by letting customers buy luxury cars with cryptocurrencies.

Luxury sports car maker Ferrari is now accepting cryptocurrencies like Bitcoin and Ethereum from customers in the United States. They also intend to offer this payment option in European markets soon due to high demand from their customers.

Ferrari Now Accepts Cryptocurrency Payments

Ferrari, known for its high-performance cars, is now accepting cryptocurrencies like Bitcoin, Ethereum, and USDC in the U.S. This move is in response to increasing requests from both cryptocurrency-savvy investors and traditional buyers looking to diversify their portfolios.

Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, mentioned that this shift to cryptocurrency payments aligns with the company’s goal to achieve carbon neutrality by 2030. He also pointed out that cryptocurrencies are making efforts to reduce their carbon footprint through software improvements and the use of renewable energy sources.

Ferrari aims to reach a broader audience and connect with potential customers who might not have considered owning one of their cars before. While they didn’t specify the number of cars they plan to sell with cryptocurrency, they emphasized their strong order portfolio, extending well into 2025.

What Comes Next?

BitPay, a major cryptocurrency payment processor, has been chosen by Ferrari for their U.S. rollout. BitPay will quickly convert cryptocurrency payments into regular money to protect both dealers and the company from the ups and downs of digital assets.

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The goal of accepting cryptocurrency payments is to provide Ferrari’s customers with a smooth experience without additional fees or extra costs when using cryptocurrencies to make purchases.

Additionally, the luxury car manufacturer plans to introduce cryptocurrency payments in European markets in the first quarter of the next year and later in regions where using cryptocurrencies is allowed by law. It’s worth noting that Ferrari’s largest market is Europe, the Middle East, and Africa (EMEA), accounting for about 46% of their car shipments in the first half of this year.

Ferrari’s decision to accept cryptocurrency payments reflects a growing trend among established companies to meet the changing preferences of their customers and get involved in the digital finance world.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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