Ferrari to Extend Cryptocurrency Payments to Europe by July End

Ferrari’s initiative to extend crypto payments reportedly comes as part of its broader strategy to meet the evolving preferences of its customer base. The Italian automaker has confirmed that most of its European dealers have either adopted or are in the process of adopting the new payment system. 

This rollout is expected to include a wider network of international dealers by the end of 2024, in regions where cryptocurrencies are legally accepted.

Positive Reception in the U.S.

The company noted that while it accepts these digital assets, it does not hold them. Instead, cryptocurrencies are automatically converted into fiat currencies during the transaction process, eliminating the need for dealers to manage digital currencies directly.

International Rollout

In addition to its European expansion, Ferrari plans to introduce its crypto payment options to other regions where digital currencies are legally recognized by the end of the year. 

The choice of crypto payment processors in Europe and other regions will depend on Ferrari's cryptocurrency payment system. The company has yet to disclose specific details regarding its partners for these new markets.