Ferrari will extend its cryptocurrency payment system to European dealers from the end of July in order to cater to evolving needs.
The payment system was successfully launched in the US less than a year ago. Ferrari partners with Bitpay and accepts Bitcoin, Ethereum and the stablecoin USDC in the US.
Ferrari expects to expand the cryptocurrency payment system internationally by the end of 2024.
In Europe, Ferrari will use various companies active in the crypto payment to ensure transaction security. Dealers will be able to accept payments without needing to manage the currency as the crypto will convert to traditional currency immediately.
Verification of the source of funds will protect transactions from price fluctuations related to exchange rates.