{"id":84955,"date":"2024-07-24T11:13:27","date_gmt":"2024-07-24T15:13:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=84955"},"modified":"2024-07-24T11:13:32","modified_gmt":"2024-07-24T15:13:32","slug":"ferrari-launches-cryptocurrency-payments-in-europe","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ferrari-launches-cryptocurrency-payments-in-europe\/","title":{"rendered":"Ferrari Launches Cryptocurrency Payments in Europe"},"content":{"rendered":"\n

Ferrari, the Italian manufacturer of luxury sports cars, is expanding its cryptocurrency payment system <\/a>to Europe following its successful debut in the United States in 2023.<\/p>\n\n\n\n

\"Ferrari
Ferrari Launches Cryptocurrency Payments in Europe <\/figcaption><\/figure>\n\n\n\n

Ferrari officially announced on July 24 that it will expand its crypto payment feature to its network of European merchants by the end of July 2024.<\/p>\n\n\n\n

At the time of the announcement, the majority of Ferrari's European merchants had either already implemented or were in the process of implementing the new payment system, which complements the traditional system. The company further stated:<\/p>\n\n\n\n

\n

\u201cBy the end of 2024, Ferrari will expand cryptocurrency transactions to other countries in its international dealer network, where cryptocurrencies are legally accepted.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

In October 2023, Ferrari successfully launched its crypto payment system in the United States, which prompted its entry into the European market.<\/p>\n\n\n\n

Ferrari initially collaborated with BitPay, a significant local crypto payment company that caters to global brands such as AMC Theaters and the electronics retailer Newegg\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, to facilitate crypto payments in the United States.<\/p>\n\n\n\n

“As of today, approximately 50% of Ferrari dealers are utilizing the platform in both the U.S. and Canadian markets,” a spokesperson reported to Cointelegraph.<\/p>\n\n\n\n

The representative observed that approximately 60% of the dealers in Europe have either adhered to or are in the process of adhering to this project. <\/p>\n\n\n\n

According to him, the absence of market solutions and regulatory constraints resulted in the exclusion of dealers from specific countries.<\/p>\n\n\n\n

Dealers to receive payments in local currency directly into their bank accounts<\/h2>\n\n\n\n

Ferrari underscored in its most recent announcement that its crypto payment tools do not necessitate merchants to manage cryptocurrencies directly. <\/p>\n\n\n\n

Instead, customers' cryptocurrencies, such as Bitcoin, will be mechanically converted into fiat currencies and transferred directly to their bank accounts.<\/p>\n\n\n\n

According to Ferrari, the solutions provided by the providers will also facilitate the substantiation of the source of funds and safeguard transactions from exchange rate-related price fluctuations<\/a>.<\/p>\n\n\n\n

The company's representative informed Cointelegraph that Ferrari's North America and Europe clients can purchase their vehicles using Bitcoin, Ether, and USDC.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Ferrari, the Italian manufacturer of luxury sports cars, is expanding its cryptocurrency payment system to Europe following its successful debut in the United States in 2023. Ferrari officially announced on July 24 that it will expand its crypto payment feature to its network of European merchants by the end of July 2024. At the time […]<\/p>\n","protected":false},"author":12,"featured_media":84957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[3859,4685,12983],"class_list":["post-84955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-payment","tag-europe","tag-ferrari-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/ferrari-crypto.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=84955"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/84955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84957"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=84955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=84955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=84955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}