Ferrari Begins to Take Crypto as Payment for Cars in US: Reuters

Gabriela Mello, Bloomberg News

A Ferrari badge on a Ferrari Daytona SP3 luxury sports car in Maranello, Italy, on Tuesday, Feb. 7, 2023. Speaking at Ferrari’s Maranello headquarters, Ferrari Chief Executive Officer Benedetto Vigna, 53, credited Tesla with accelerating change within an industry steeped in engine cylinders. Photographer: Francesca Volpi/Bloomberg , Bloomberg

(Bloomberg) -- Ferrari NV is allowing US customers to pay for its luxury sports cars using cryptocurrency, with plans to expand the payment method to Europe by the first quarter of 2024, Reuters reported Saturday.

The Marenello-based automaker also intends to extend the service to other regions where crypto is legally accepted, Ferrari’s Chief Marketing and Commercial Officer Enrico Galliera said in an interview with the news agency.

The company is using crypto payment processor BitPay in the US and currently allows transactions in Bitcoin, Ether and USDC without fees or surcharges, Galliera said.

The executive didn’t specify how many cars Ferrari expects to sell through crypto, but said its portfolio is fully booked well into 2025.

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