Ferrari is moving quickly into cryptocurrency and now allows its clients buy high-end cars using cryptocurrencies.
The high-performance car manufacturer Ferrari has strategically decided to accept cryptocurrency payments. The business just started accepting popular stablecoins like USDC and Ethereum and digital currencies like Bitcoin and Ethereum in the United States.
This choice was made in response to escalating demands from their affluent clients, including crypto-savvy investors and more conventional consumers wishing to diversify their portfolios.
Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, stated that the company’s goal of becoming carbon neutral by 2030 is consistent with this move toward Bitcoin payments.
Additionally, he stated that software advancements and the use of renewable energy sources have helped cryptocurrencies progress in lowering their carbon impact.
Ferrari is currently trying to appeal to a wider clientele and establish connections with potential buyers who previously might not have considered purchasing the brand’s automobiles.
Galliera should have provided more information regarding the precise quantity of vehicles Ferrari intends to sell via cryptocurrency exchanges. Nevertheless, he emphasized the strength of their order portfolio, with bookings going to 2025.
What It Entails
Ferrari has picked BitPay, one of the top cryptocurrency payment processors, for its U.S. launch. According to the report, BitPay would instantly convert cryptocurrency payments into fiat money to shield both merchants and business from the volatility of digital assets.
With the decision to accept cryptocurrency payments, Ferrari’s customers will have a flawless shopping experience; there will be no added fees or surcharges for utilizing cryptocurrencies.
Additionally, the premium automaker intends to expand its bitcoin payment program to European markets by the first quarter of 2019 and then to other regions where its use is permitted by law.
Europe, the Middle East, and Africa (EMEA) accounted for over 46% of Ferrari’s car exports in the first half of this year, making it the company’s largest market.
Ferrari’s acceptance of cryptocurrency payments exemplifies a growing tendency among established businesses to adapt to their consumers’ changing demands and engage with the world of digital finance.
