Ferrari to Accept Cryptocurrency Payments

The expectation was that as the cryptocurrency market expanded, all businesses would eventually embrace it. Yet, it’s quite unexpected that Ferrari has emerged at the forefront.

Known for its distinctive approach, Ferrari, the luxury sports car brand, maintains an extraordinarily devoted clientele. The company, often making unanticipated moves, recently introduced its SUV model, the “Purosangue,” which itself was an unforeseen development.

As previously noted, Ferrari highly values its customer base and has now addressed their preferences by deciding to accept cryptocurrency as a payment option. This announcement was delivered by Enrico Galliera, who oversees customer relations and marketing at the company.

This decision was made thanks to dealer and customer demands.

The precise quantity of vehicles Ferrari, aiming to draw in new patrons while keeping its existing customer base, intends to sell via cryptocurrency payments is yet to be disclosed.

A Reuters article highlighted that Galliera pointed out orders are usually made for deliveries scheduled for 2025. The option to pay with cryptocurrency is expected to roll out in Europe by the first quarter of 2024, with plans to expand its availability to other areas later on.

Galliera also emphasized that there would be no extra fees for transactions conducted in cryptocurrency. Although the process seems more streamlined in Europe, a partnership with BitPay has been formed for orders in the United States. This agreement is designed to protect both the company and its clients from the fluctuating nature of cryptocurrencies and to guarantee that the received funds are not linked to illicit activities.

Despite the ease it offers, many firms are still wary about integrating cryptocurrency as a mode of payment due to its inherent volatility. In this light, Ferrari’s move to adopt such a strategy is viewed as notably bold.

Moreover, for those keen on delving deeper into Ferrari, especially regarding Galliera, be sure not to miss our additional content exploring another intriguing facet of the brand.

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