FBI Warns to Be Careful When Buying Crypto from Exchanges, Why?

Ferrari previously revealed it would expand its cryptocurrency payment scheme for its luxury sports cars to its European dealer network later this month, after launching in the United States last year.

“The Italian company will also expand this scheme by the end of 2024 to other dealers in its international network, in countries where cryptocurrencies are legally accepted,” Ferrari said in its announcement, quoted from Yahoo Finance, Thursday (25/7/2024).

While most blue-chip companies have shunned crypto because the volatility of bitcoin and other tokens makes them impractical to trade, Ferrari began accepting payments in cryptocurrency in the U.S. last year, meeting demand from its wealthy customers.

“Entry into the European market follows the successful launch of this alternative payment system in the United States less than a year ago, to support dealers in meeting the evolving needs of their clients,” the company said.

He added that most of his dealers in the region have adopted or are in the process of adopting the new payment system. Uneven regulation and high energy usage have so far also hampered the spread of crypto as a means of payment.

In its previous launch in the US, Ferrari had turned to one of the largest cryptocurrency payment processors, BitPay, and allowed transactions in bitcoin, ether and USDC, one of the largest stablecoins.