TechFlow reported on July 24, according to Coindesk, that luxury sports car manufacturer Ferrari has announced plans to launch cryptocurrency payment services in the European market by the end of July. Ferrari will accept Bitcoin (BTC), Ethereum (ETH), and the U.S. dollar stablecoin (USDC) as payment methods. The company began accepting cryptocurrency payments through a partnership with BitPay in the U.S. market last October.
Ferrari stated that this expansion aims to support dealers in better meeting evolving customer demands, with plans to further extend the service to additional markets before the end of 2024. While cryptocurrencies are gaining popularity as investment instruments, their adoption as a payment method by major companies remains relatively rare—partly due to potentially limited customer demand. For high-end goods such as automobiles, however, owners may be more inclined to spend their cryptocurrencies, as these products typically hold long-term value.
