Ferrari to Introduce Cryptocurrency Payments in Europe

In late July, Italian car manufacturer Ferrari will begin accepting digital assets as a form of payment in Europe.

This decision follows the successful launch of the initiative in the United States in autumn 2023, responding to requests from dealers and clients.

At that time, Ferrari partnered with the processing service BitPay, which converts received assets into fiat. Initially, the automaker accepted Bitcoin, Ethereum, and USDC.

According to a press release, by the end of 2024, the company will expand the option to pay with cryptocurrencies to other countries.

“As of today, most European Ferrari dealers have already adopted or are in the process of adopting the new payment system, which complements the traditional one,” the statement reads.

Earlier in 2023, the number of merchants accepting Bitcoin increased by 174%, from 2207 to 6126.