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Ferrari to Start Accepting Crypto Payments in U.S, Europe to Follow
Ferrari will subsequently extend the scheme to Europe in response to demand from its wealthy customers
Updated Oct 16, 2023, 1:32 p.m. Published Oct 16, 2023, 9:27 a.m.
Ferrari (RACE) will start accepting cryptocurrency as a payment method in the U.S., with a view to extending the scheme to Europe.
The Maranello, Italy-based luxury sports car manufacturer is responding to demand from its wealthy customers, Chief Marketing and Commercial Officer Enrico Galliera said in an interview with Reuters.
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"Some [of our clients] are young investors who have built their fortunes around cryptocurrencies," Galliera said. "Some others are more traditional investors, who want to diversify their portfolios."
Ferrari will use crypto payments provider BitPay to process transactions in bitcoin , ether and stablecoin USD coin (USDC) in the initial rollout in the U.S.
"Dealers – and ultimately Ferrari – will receive payments in traditional currency and will not be managing cryptocurrencies directly," Ferrari told CoinDesk in an emailed statement. "The source of the cryptocurrencies will be proven and volatility risks associated with exchange rates will be eliminated."
Despite crypto's popularity as an investment tool, for major companies to accept it as method of payment remains rare. In February 2021, Elon Musk's electric-car company Tesla (TSLA) began accepting bitcoin payments but discontinued the service only three months later, citing environmental concerns over the electricity usage involved in bitcoin mining.
Read More: Chase U.K. to Block Crypto Payments Citing Fraud, Scams
UPDATE (Oct. 16, 13:30 UTC): Adds statement from Ferrari.
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Sizin için daha fazlası
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Bilinmesi gerekenler:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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