The iconic sports car brand, Ferrari, is now in the Bitcoin fast lane.

Luxury and speed have always been synonymous with Ferrari. Now, the Italian sports car manufacturer is adding innovation to that mix by introducing Bitcoin payments for its vehicles in the U.S.

JUST IN: Ferrari to accept #Bitcoin and crypto as payment for its cars in the US 🇺🇸 — Reuters

— Bitcoin Magazine (@BitcoinMagazine) October 14, 2023

In this pioneering move, Ferrari has teamed up with BitPay, a renowned cryptocurrency payment processor. This partnership will facilitate transactions in prominent cryptocurrencies such as Bitcoin, ether, and the stablecoin USDC.

While the U.S. market is the starting point, Ferrari has broader horizons in sight. The luxury carmaker has expressed intentions to extend its Bitcoin payment gateway to European territories soon.

Elaborating on the decision, Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, mentioned the company’s adaptation to market demands. He highlighted the increasing number of clients who have vested interests in Bitcoin. Some have amassed wealth through their crypto investments, while others perceive it as a modern means to diversify. Ferrari’s move aims to cater to these evolving preferences and open the door to potential customers who are familiar with the digital currency sphere.

One of the key aspects of Ferrari’s Bitcoin integration is its customer-friendly approach. Galliera emphasized a hassle-free experience, stating there would be no changes in prices, hidden fees, or additional surcharges for those opting for crypto payments.

Looking forward, Europe is on Ferrari’s radar for the rollout of this payment mode. Given that the regions of Europe, the Middle East, and Africa (EMEA) contributed to a whopping 46% of Ferrari’s car shipments in the initial half of this year, it’s a strategic move to meet the expectations of a significant portion of their clientele.

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