Luxury Goes Digital: Ferrari Embraces Crypto Payments in Europe

Aayushi Jain

Ferrari is set to extend its acceptance of cryptocurrency payments to Europe from the end of July

 The Italian carmaker will also start crypto transactions in other countries where crypto is currently legal by the end of 2024

Currently in the US, Ferrari uses the crypto payment platform ‘Bitpay’, which converts crypto into traditional currency immediately

The high energy usage of cryptocurrencies has deterred other car manufacturers from accepting it as payment

Chief marketing and commercial officer of Ferrari, Enrico Galliera has talked about crypto providers’ efforts to reduce their carbon footprint

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