Ethereum

Bitcoin

Show

USDC

<ul>
 <li>Ferrari expands crypto payments to European dealers following successful U.S. launch.</li>
 <li>Partnership with BitPay enables payments in Bitcoin, ether, and USDC.</li>
</ul>
Ferrari is extending its cryptocurrency payment options to its European dealer network this month, following a successful U.S. launch. The luxury sports car manufacturer will broaden this initiative to other international markets where cryptocurrencies are legally accepted, according to a Reuters <a href="https://www.reuters.com/technology/ferrari-extends-cryptocurrency-payment-system-europe-after-us-launch-2024-07-24/" target="_blank" rel="noopener noreferrer nofollow">report</a>.
The Italian automaker initially introduced crypto payments in the U.S. in October 2023, responding to growing market demand and requests from dealers. Many of Ferrari’s clients are <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> investors, prompting the move to offer a payment alternative that aligns with their interests.
Ferrari’s European expansion is a direct follow-up to the U.S. initiative, aimed at accommodating the evolving needs of its clientele. The company noted that most dealers in Europe have either adopted or are in the process of adopting this particular payment system. Ferrari’s move underscores its commitment to embracing digital payment methods in response to customer preferences.
<h3 class="wp-block-heading" id="h-a-major-crypto-adoption">A Major Crypto Adoption?</h3>
For the U.S. rollout, Ferrari partnered with BitPay, a prominent cryptocurrency payment processor. This partnership allowed customers to pay using Bitcoin, ether, and the USDC <a href="https://thenewscrypto.com/us-sec-ends-investigation-into-paxos-trusts-busd-stablecoin/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a>. To mitigate volatility, Ferrari converted crypto payments into fiat currency immediately upon receipt, protecting dealers from potential price fluctuations.
As Ferrari prepares to extend its crypto payment options to Europe and the other regions, it remains uncertain which payment processors will be involved in these markets. This expansion marks a significant step in the luxury automotive sector’s adaptation to digital finance trends.
In contrast, Tesla, another high-profile automaker, began accepting Bitcoin payments in 2021. But later suspended this option due to environmental concerns related to <a href="https://thenewscrypto.com/how-mt-gox-payouts-on-kraken-and-bitstamp-influenced-bitcoin-price/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> mining and the high energy consumption.
Ferrari’s decision highlights the growing acceptance of cryptocurrency in high-end markets, reflecting a broader trend toward integrating digital assets into traditional financial transactions. And it also demonstrates the evolving landscape of luxury retail.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/tron-network-and-ethereum-show-massive-surges-in-on-chain-activity/" rel="noopener noreferrer nofollow">Tron Network and Ethereum Show Massive Surges in On-Chain Activity</a>

Ferrari Broadens Crypto Payment Initiative to European Market

Innehållsförteckning

TheNewsCrypto

Andra artiklar publicerade 24 juli 2024

European Investment Bank calls for more ‘innovation’ financing in EU

The Power of NVDA17K: Integrating AI with Cryptocurrency for a Smarter Future

New Law Mandates AML Compliance for Russia’s Crypto Mining Industry

Solana price steady as Franklin Templeton eyes spot ETF

$2.8B Mt. Gox Bitcoin On The Move Again — How Does BTC React?

MEW Coin Gains Significant Attention in the Crypto Market

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!