After witnessing a successful run of its crypto payment system in the US, the global auto major will expand it to Europe by the end of this month.
Automobile company Ferrari had launched a crypto payments feature in 2023 in the US. After recognizing its successful run, the firm has decided to expand the crypto payment system to Europe. Publishing a press release, Ferrari announced the launch and said it will expand it to its European dealers within this month. It also said its endeavor in the US was due to their clients’ evolving needs.
Meanwhile, Ferrari also stated it will expand the crypto payments feature to more countries by the end of 2024.
Further, the press release underlined, “Ferrari is leveraging the expertise of various companies active in the cryptocurrency payment sector to ensure transaction security. These solutions will facilitate dealers in accepting payments without the need to manage cryptocurrencies directly, as these will be converted immediately into traditional currency. “
This unique initiative from Ferrari ensures dealers don’t suffer losses from price fluctuations. Moreover, the solutions will also help verify the source of crypto funds. Ferrari added that most of its dealers in Europe are in the process of adopting the crypto payments feature.
Crypto adoption as a whole can benefit from this exercise. With a reputed firm like Ferrari recognizing the importance of crypto, the entire ecosystem derives several potential benefits. The integration of crypto into mainstream commerce has been an evolving subject. However, this is becoming a reality, with industry titans like PayPal and Ferrari also leading the change.
At the same time, legacy payment majors like Mastercard and Visa have also aided in expanding crypto adoption. Crypto payments’ many benefits are a testament to their growth in multiple industries.
Head to Millionero’s blog for an overview of the global crypto sector!