Ferrari Partners with BitPay to Accept Cryptocurrency Payments in the US

Ferrari now accepts cryptocurrency payments through BitPay for its luxury cars in the US, with plans to expand to Europe in 2024. This move aims to reach a broader customer base without imposing additional charges, facilitating purchases with Bitcoin, Ether, and USDC.


Worldsfeed Tech Desk: Cryptocurrency enthusiasts with a penchant for luxury cars can now use their digital assets to buy a Ferrari in the US. The renowned carmaker has teamed up with crypto payment processor BitPay to enable Bitcoin, Ether, and USDC payments for its vehicles stateside. This move comes in response to customer demand. Europe is slated to follow suit in early 2024, with other regions expected to join later.

Remarkably, Ferrari won’t impose any extra charges for cryptocurrency transactions. According to Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, BitPay will convert these payments into traditional currency at the time of the transaction to mitigate volatility risks. The goal is to make Ferrari’s offerings accessible to a wider audience. While Ferrari committed to more environmentally friendly operations last year, embracing energy-intensive cryptocurrencies doesn’t contradict this commitment. Galliera cited improvements in the crypto industry’s carbon footprint, including the increased use of renewable energy sources, and reaffirmed Ferrari’s objective to achieve carbon neutrality across its value chain by 2030.

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