Ferrari to Accept Crypto Payments in Europe

Ferrari to Accept Cryptocurrency Payments in Europe from July

Renowned Italian luxury sports car manufacturer Ferrari plans to implement cryptocurrency payments for European customers by the end of July, as reported by Reuters.

Ferrari initially introduced cryptocurrency payments in the U.S. last October, recognizing the evolving financial preferences of its affluent clientele. In the U.S., customers can utilize Bitcoin, Ethereum, and USD Coin (USDC) through the payment processor BitPay.

The availability of BitPay for European dealerships remains to be confirmed. Ferrari intends to expand cryptocurrency payments to dealerships in other regions in the future.

Rival carmaker Lamborghini also accepts digital assets at its Newport Beach dealership. Additionally, authorized dealers for brands like Porsche and Bentley offer cryptocurrency payment options.

Although luxury cars constitute a niche market, cryptocurrency payments are gradually gaining traction among select car companies. Tesla, an electric vehicle manufacturer, briefly accepted Bitcoin for vehicle purchases but later discontinued it due to environmental concerns. Despite this setback, Tesla CEO Elon Musk's recent "laser eyes" profile picture has sparked speculation about the company potentially resuming Bitcoin acceptance. Notably, Tesla also accepts Dogecoin for certain merchandise purchases.