Ferrari to accept crypto payments in the US

The luxury car brand Ferrari will offer its cars to be purchased with cryptocurrency as a payment option in the United States thanks to the orders and requests from its customers. According to Enrico Galliera, Chief Marketing and Commercial officer at Ferrari, the intention to accept crypto payments was driven mainly by the request of the cars’ buyers, which includes savvy crypto investors. Extending the availability of purchase program to Europe, Ferrari plans to launch the option in the first quarter of 2024. To make this possible, they have joined hands with the major cryptocurrency payment processor BitPay, a partnership that will enable transactions using Bitcoin (BTC), Ether (ETH) and USD Coin (USDC).

The benefit of this collaboration is even more realized because of Ferrari’s assurance to not include any added burden to the buyers through additional surcharge or fees as Bit Payments will make sure to convert cryptocurrency into regular fiat currency; there by shielding Ferrari’s dealers from the fluctuations of the currency values in the market. Also the legitimacy of digital transactions are affirmed by setting standards verified on terms such as illegal activities, money laundering, taxes and evasions.

Other corporate powers have surely stayed back due to similar flaws present in the crypto market. Tesla, the EV manufacturer began to accept payments via bitcoin in 2021, however their CEO suspended the option with serious concerns on its environmental sensitivity. There have been cryptocurrency revolution stories strong in Tibet belief and dedication like the Cuba revolution which The magazine “‘The truth Behind Cuba’s Bitcoin Revolution’ published an on-the-ground report about it.

Robert Wilson author
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