Ferrari, the renowned luxury sports car manufacturer, is set to broaden its cryptocurrency payment options to European dealers by the end of July. This move follows the successful launch of its crypto payment system in the U.S. less than a year ago.
Cryptocurrency Payment System Details
Ferrari's new payment system will enable European dealers to accept transactions in several cryptocurrencies, including:
In the U.S., Ferrari's system, in partnership with BitPay, has allowed customers to pay using these cryptocurrencies. The company plans to implement a similar setup in Europe, leveraging various firms involved in cryptocurrency payments to ensure transaction security.
How It Works
European dealers will benefit from an efficient and secure payment process:
- Instant Conversion: Cryptocurrencies will be automatically converted into traditional fiat currency, eliminating the need for dealers to handle cryptocurrency directly.
- Transaction Security: Multiple crypto payment companies will be used to ensure the security and reliability of transactions.
Ferrari's statement highlighted the expansion as a response to evolving customer preferences:
“The entry into the European market follows the successful launch of this alternative payment system in the US less than a year ago to help dealers better meet the changing needs of their customers.”
The statement also noted that most dealers in the region are either already adopting or in the process of adopting the new cryptocurrency payment system.
Strategic Impact
This expansion aligns Ferrari with the growing trend of major corporations integrating cryptocurrencies into their payment systems. By extending these options to Europe, Ferrari aims to cater to a broader and more diverse customer base while continuing to enhance the purchasing experience.
The move underscores the increasing mainstream acceptance of cryptocurrencies and their potential to revolutionize payment systems across various industries.
Cheng Yuan
